Regional & City Airports (RCA), the operator of Exeter, Bournemouth, and Norwich airports, has entered into an agreement with ICG, a global asset manager, to acquire stewardship of the three regional hubs, with the deal expected to close later in the month. RCA had previously maintained an agreement with Rigby Group for over a decade.
“This is an exciting new chapter for Exeter Airport and with ICG’s backing we are well positioned to drive further growth, connectivity and opportunity for our region and workforce,” said Stephen Wiltshire, Managing Director of Exeter Airport. “I look forward to working with our team and our new strategic partners at ICG to deliver the next phase of our journey.”
“Regional & City Airports has flourished into one of the leading UK airport groups and a high-performing enterprise,” commented Andrew Bell, Chief Executive of Regional & City Airports. “We are now ready to accelerate further – with the help of our new partner, ICG. Across our networks, it will be business as usual, with the same outstanding team and vision, boosted by renewed momentum to drive our continued growth, innovation and sustainability in regional aviation. I’m proud of our team and everything we’ve achieved and look keenly ahead to what’s next.”
“Rigby Group has been a committed investor in these regional airports since 2013,” added Steve Rigby, Co-CEO of Rigby Group. “Regional & City Airports comprises a thriving group of airports, strategically important in their regions and growing at above market rates. Following our successful stewardship, now is the right time for the next phase in Regional & City Airports’ growth in collaboration with an infrastructure fund with the investment capability and appetite to ensure these airports and their associated property reach their full potential. We are delighted to see the Company partner with ICG, a FTSE100 asset manager, keeping these key UK assets in UK stewardship.”
Photo: Exeter Airport
