Credit facility from Global Infrastructure Partners to accelerate expansion in people, products, and markets
Aireon, the leader in space-based automatic dependent surveillance-broadcast (ADS-B) data for the global aviation industry, is set to expand its data product and services portfolio, bolstered by a new credit facility from Global Infrastructure Partners (GIP).
Having already established itself as the best-in-class provider of accurate, reliable, and global ADS-B data, Aireon is leveraging its market-leading position to drive innovation in data analytics and products for the global airspace. Under this new credit facility, Aireon will invest in advanced data analytic capabilities and visualization tools, aimed at driving increases in safety, efficiency, and environmental responsibility for its customers.
“This new credit facility marks an important milestone for Aireon as we take the next steps as a company. In the 11 years since Aireon was created, we have become a critical part of the aviation infrastructure. And now, we are increasing our investment in the business to create new value-added aviation data products for the industry,” said Don Thoma, Aireon CEO.
“This credit facility with GIP replaces another credit facility that was put in place before the Aireon service went operational. Since that time, Aireon has grown and evolved and so have our financial needs. This new facility matches that evolution and our future growth plans,” Thoma added.
“The investment represents the eighth investment made under GIP’s Spectrum strategy. The GIP Spectrum strategy provides customized capital solutions for infrastructure projects and companies in GIP’s core areas of focus, while leveraging GIP’s significant operating expertise,” said Wesley Altman, Principal at GIP Credit. “This financing is consistent with GIP Credit’s strategy of seeking to invest in high-quality critical infrastructure assets with attractive cash flow characteristics.”
Global Infrastructure Partners, a leading infrastructure investor that specializes in investing in, owning, and operating some of the largest and most complex assets across the energy, transport, digital infrastructure, and water and waste management sectors, is a proven supporter of key infrastructure companies and projects around the world, including companies in the aviation, oil and gas, renewable energy, transportation, water, and telecommunications industries. GIP’s aviation investments include Edinburgh Airport, Gatwick Airport, Sydney Airport, and Signature Aviation.
“Global Infrastructure Partners was a natural fit to help Aireon usher in this new era of growth and innovation,” said Rich Nyren, Aireon Chief Financial Officer. “Their expertise in the transportation and digital infrastructure sectors, coupled with their commitment to helping businesses deliver high-quality products and services to their customers, make them the perfect partner for us.”
PJT Partners acted as exclusive financial advisor to Aireon in connection with this transaction.