French airport concession holder and operator Vinci Airports has signed a deal with the Advent International private equity firm to acquire Dominican airport concessionaire Aeropuertos Dominicanos Siglo XXI, SA (AERODOM).
With the completion of the transaction and transfer of operations scheduled for the end of the first quarter of 2016, Vinci Airports will have 33 airports operating under it.
Its airport network includes flights from more than 100 different airlines, with 47m annual passengers and a turnover of €717m.
Aerodom CEO Mónika Infante said: "The acquisition of Aerodom by of one of the world's leading airport operators underscores the importance of our company in the Dominican Republic and will allow us to operate at the highest international standards.
"We thank Advent for its continued support over the past seven years in developing Aerodom into a world-class airport operator."
Aerodom holds a concession contract from the Dominican Government and the Airport Commission to administer, manage and operate six airports in the Dominican Republic, until March 2030.
The six airports include Las Américas International Airport, serving Santo Domingo, Gregorio Luperón Airport in Puerto, Presidente Juan Bosch and Arroyo Barril airports in Samaná, La Isabela in Santo Domingo, and María Montez in Barahona.
Advent acquired Aerodom in September 2008 and has since dedicated to grow and nurture the business significantly.
Advent managing director Mexico City office Luis Solórzano said: "Together, we have improved operations and expanded both the commercial and aeronautical sides of the business, resulting in significant revenue and productivity growth.
"We believe Vinci Airports is the ideal partner for Aerodom as it enters the next stage of its development and wish the company continued success well into the future."
Image: Las Américas International Airport is one of the six airports operated by AERODOM. Photo: courtesy of Lacreta.