Investors complete Atlas Air acquisition

Investors have completed the acquisition of Atlas Air Worldwide, making it a privately held company whose common stock are no longer traded on the NASDAQ stock exchange.

The transaction was announced on 4 August 2022 with the investor group being led by funds managed by affiliates of Apollo together with investment affiliates of J.F. Lehman & Company and Hill City Capital.

Atlas Air Worldwide will continue to operate under its name and be led by President and CEO, John Dietrich and its current executive leadership team.

Saying that the deal marks an exciting new chapter for Atlas, Dietrich says, “With the support and resources of our investor partners, we are well-positioned to achieve our growth objectives while continuing to serve the increasingly complex global supply chain. I want to thank the entire Atlas team, whose customer focus and dedication made this milestone possible. I look forward to the opportunities this next phase provides for our company and our employees.”

Speaking for the investment group, Apollo Partners Antoine Munfakh and Jason Scheir, J.F. Lehman Partner Alex Harman and Hill City Capital Chief Investment Officer Chip Frazier, say: “We are thrilled to partner with the talented Atlas team and build on the company’s strong foundation as a leader in the airfreight industry. We have long admired Atlas’ reputation of providing high-quality service to its customers, as well as the financial and operational excellence the team has established. Atlas is poised for continued growth and expansion as it capitalises on the long-term demand for global air cargo services.”

The investor group has acquired all of the outstanding shares of Atlas Air Worldwide’s common stock and shareholders are entitled to receive $102.50 in cash for each share.