Ardian Increases Stake in Heathrow Holdings to 32.6%
Deal News | Feb 27, 2025 | Finance Community IT - 3 Private Equity
Ardian, a prominent private equity firm, has significantly increased its stake in Heathrow Airport Holdings, the parent company of Heathrow Airport, to 32.6%. The increased investment follows an earlier acquisition in December 2024 when Ardian initially acquired a 22.6% share from Ferrovial, CDPQ, and USS. This move comes as Heathrow has embarked on a historic multi-billion-pound investment drive aimed at modernization and expansion. The transaction shows Ardian’s ongoing commitment to infrastructure investments in the UK, highlighting its ambition to contribute to sustainable growth while supporting the transition to net-zero emissions. The infrastructure and legal aspects of the acquisition were managed by top-tier firms including Bank of America, RBC, Goldman Sachs, and law firms Clifford Chance and DLA Piper, with KPMG overseeing financial due diligence.
Sectors
- Infrastructure
- Private Equity
- Aviation
Geography
- United Kingdom – Heathrow Airport is located in the UK and the investment is directed towards UK infrastructure.
- France – Ardian is based in France, with its executive management involved in the transaction.
Industry
- Infrastructure – The investment involves Heathrow Airport, a significant infrastructure asset in the UK.
- Private Equity – Ardian, as a private equity firm, is actively involved in increasing its stake in Heathrow, showcasing private equity investment strategies.
- Aviation – Heathrow Airport is a key player in the aviation sector, being the UK's major airport.
Financials
- 32.6% – Ardian's total stake in Heathrow Airport Holdings after the transaction.
- 22.6% – The initial stake acquired from Ferrovial, CDPQ, and USS in December 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ardian | Bidding Company | Company | A French private equity firm increasing its stake in Heathrow Airport Holdings. |
| Heathrow Airport Holdings | Target Company | Company | The holding company of Heathrow Airport, involved in a significant expansion and investment plan. |
| Ferrovial, CDPQ, USS | Selling Company | Companies | Previously held a 22.6% stake in Heathrow sold to Ardian. |
| Bank of America, RBC, Goldman Sachs, Santander | Financial Advisors | Companies | Handled the M&A aspects of the transaction. |
| Clifford Chance, DLA Piper | Legal Advisors | Companies | Managed the legal aspects of the transaction. |
| KPMG | Financial Due Diligence | Company | Conducted financial due diligence for the transaction. |
| Infrata | Traffic Due Diligence | Company | Conducted traffic due diligence. |
| Nera | Regulatory Due Diligence | Company | Handled regulatory due diligence. |
| Mathias Burghardt | Executive | Person | Executive Vice President and CEO of Ardian France, involved in the investment. |