Blank Rome Represents Propeller Airports in Its Sale to Global Infrastructure Partners
A Blank Rome corporate team represented Propeller Airports (“Propeller”), which has privatized the airport at Paine Field in Everett, WA, and services the Seattle area, in a sale to Global Infrastructure Partners (“GIP”), a leading, independent global infrastructure investment firm. The transaction is anticipated to close in mid-October and represents the first privatization of a U.S. domestic airport passenger terminal operation.
GIP is managing this investment on behalf of the Washington State Investment Board, a limited partner of GIP and an institutional investor that manages investments for retirement plans benefiting many of Washington State’s public sector employees, including teachers, law enforcement officers, firefighters, and judges. GIP’s investment demonstrates a level of confidence in Propeller’s strong economic performance and long-term commercial viability as Propeller is poised to continue privatizing at other locations.
For more information, please read Propeller Airports Welcomes Investment from Washington State Investment Board and Global Infrastructure Partners in Paine Field Passenger Terminal (press release, October 1, 2019).
The Blank Rome corporate team was led by Robert J. Mittman and Kathleen A. Cunningham together with Joseph T. Gulant and Scott Smith, and with the assistance of associates Adam Seiden and Andrae Nelson.