Lone Star Funds has signed an agreement to acquire Alliance Ground International, a North American airport services provider, in a private equity transaction that marks a change of ownership for the fast-growing aviation services platform.

The acquisition will be completed by an affiliate of Lone Star Fund XII. Alliance Ground International is being acquired from Greenbriar Equity Group and Audax Private Equity. Financial terms of the deal were not disclosed.

Founded in 1987 and headquartered in Miami, AGI operates at more than 60 airports across the United States and Canada. The company employs over 12,000 professionals and provides cargo handling, passenger terminal services, ground handling, and other mission-critical airport services that support airline operations and global trade flows.

Lone Star said it plans to work with AGI’s management team to support further growth, target new investment opportunities, and expand the business across several service segments and geographies.

“We are pleased to reach this agreement to acquire AGI, a company that has grown into a true leader,” said Donald Quintin, chief executive officer of Lone Star. “Lone Star has a history of partnering with businesses like AGI that support mission-critical services to key industries. We will work alongside the company’s management team to drive growth, while also remaining committed to the high-quality operations its customers have come to expect.”

AGI’s chief executive officer Jared Azcuy said the transaction represents a new phase for the business.

“This partnership with Lone Star marks an important milestone in AGI’s continued growth,” Azcuy said. “Our strong focus on safety, reliability, and service excellence has driven AGI’s rapid expansion across the aviation industry. Working alongside Lone Star, we are excited to pursue global growth, lead in technological innovation, and continue raising the standard of service for our airline customers.”

Evercore is acting as financial adviser and Vinson & Elkins as legal counsel to Lone Star. BofA Securities is advising AGI, with legal counsel provided by Ropes & Gray.

The transaction is subject to customary closing conditions and regulatory approvals.

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