(Press Release) Advent International, one of the largest and most experienced global private equity investors, announced that it has completed the previously announced sale of Aeropuertos Dominicanos Siglo (Aerodom), the leading airport group in the Dominican Republic, to Vinci Airports, the airport operating subsidiary of Vinci SA (EPA: DG). Terms of the transaction were not disclosed.
“Our partnership with Aerodom over the past seven years has helped the company solidify its position as a world-class airport operator,” said Luis Solórzano, a Managing Director and Head of Advent’s Mexico City office. “We are proud of what we have achieved together and believe the company, along with its new partner Vinci Airports, is well positioned for its next phase of expansion.”
Advent acquired Aerodom in September 2008 and has since worked with Aerodom’s management to improve and grow the business significantly. Among the initiatives, the company formed a new route-development group to increase traffic to its airports and launched an energy cost reduction program, which lowered energy consumption by approximately 20%. Aerodom also repaved and expanded the runway of Las Américas airport, remodeled the Las Américas and Gregorio Luperón terminals and built 17 new hangars. In 2014, Las Américas received the prestigious ACI Airport Service Quality award for “Best Improvement” by an airport in Latin America and the Caribbean.