TPG-backed Private Suite To Be Bought By Groupe ADP

(RTTNews) - TPG Inc. (TPG), an asset management firm, said on Thursday that it has inked a deal to sell The Private Suite or PS to Groupe ADP, an airport operator. Financial terms of the deal were not disclosed.

Amina Belouizdad Porter, CEO of PS, said: "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 builds and operates private airport terminals serving commercial flights. It currently operates at Los Angeles International Airport and Hartsfield-Jackson Atlanta International Airport, with additional locations coming in Dallas Fort-Worth and Miami. As the first operator of private terminals serving commercial travel in the U.S., PS has served nearly 250,000 passengers since opening its first location at Los Angeles International Airport in 2017.