FX.co ★ TPG-backed Private Suite To Be Bought By Groupe ADP

TPG Inc. (TPG), the asset management firm, announced on Thursday the acquisition of The Private Suite (PS) by Groupe ADP, a prominent airport operator. The financial terms of the transaction have not been made public.

Amina Belouizdad Porter, CEO of PS, remarked, "We are now at an exciting inflection point with ambitions to create an international brand and believe this partnership with Groupe ADP will enable us to offer more locations and experiences to our members, while creating new and exciting opportunities for our team."

PS specializes in the construction and operation of private airport terminals that cater to commercial flights. Currently, the company operates at Los Angeles International Airport and Hartsfield-Jackson Atlanta International Airport, with expansions planned for Dallas Fort-Worth and Miami. As the pioneer of private terminals serving commercial travelers in the United States, PS has catered to nearly 250,000 passengers since its inaugural facility launched at Los Angeles International Airport in 2017.