#USA #New York #Atlantic Street #GAT Airline #PrimeFlight Aviation

Atlantic Street Capital Takes Steps Forward with GAT Airline Ground Support's Sale

Atlantic Street Capital, known for its strategic investments in lower middle market enterprises, has officially completed the sale of GAT Airline Ground Support, Inc. to PrimeFlight Aviation Services. This move comes after GAT's notable transition since its acquisition by Atlantic Street in 2017, illustrating the firm’s commitment to nurturing potential within the aviation ground services industry.

Transforming the Landscape of Airline Services

GAT Airline Ground Support has earned a reputation as a leading provider of essential ground handling, cargo management, and catering services throughout the United States and Canada. Under its Sky Café brand, the company caters to a variety of airline clients, offering not only catering services but also crucial safety management and cargo security tools. Headquartered in Peachtree City, Georgia, GAT employs around 6,000 people and manages operations at nearly 70 airports across North America.

Prior to its acquisition by Atlantic Street, GAT was run by its founding family. The private equity firm has played a pivotal role in steering GAT towards substantial investments in managerial resources, which facilitated a shift from family management to a structured corporate framework. This strategy has helped GAT emerge as a recognized leader in aviation ground services.

Navigating Challenges and Driving Growth

During its partnership with Atlantic Street, GAT actively sought new contracts in both existing and emerging markets, which proved instrumental in successfully navigating the difficult period during the COVID-19 pandemic. The company’s resilience during this challenging time allowed it to not only maintain its operations but also expand its footprint into the Canadian market through strategic acquisition, enhancing its service portfolio.

Mike Hough, the CEO of GAT, emphasized the importance of their dedicated team in realizing the company's evolution. He stated, "This moment belongs to the thousands of GAT and Sky Café team members who, day in and day out, have built this company through their dedication, grit, and pride. Our history spans decades of service, growth, and trust earned with our airline partners, and we carry that legacy forward with great respect."

Expressing gratitude towards Atlantic Street, Hough acknowledged their role in fostering a supportive environment that allowed GAT to flourish. Now, as they join forces with PrimeFlight, GAT stands poised to integrate into one of the largest aviation and ground handling organizations in the world. Hough underscored the excitement surrounding this transition, marking it as an important step in further strengthening GAT's operational capabilities.

Expert Perspectives on Future Opportunities

Peter Shabecoff, Managing Partner at Atlantic Street Capital, highlighted GAT's unique offerings and the company's proactive approach to service delivery. He pointed out that GAT's ground handling services coupled with a flexible catering model have propelled the company toward remarkable organic growth. Shabecoff expressed confidence in GAT's continued expansion, facilitated by Atlantic Street's operationally focused investment strategy.

Piper Sandler & Co. served as the exclusive financial advisor to GAT during this transaction, while Kirkland & Ellis LLP provided legal counsel.

About Atlantic Street Capital

Atlantic Street Capital is a private equity firm specializing in investments in lower-middle-market companies that show promise for growth. By partnering with entrepreneurial management teams, the firm focuses on enterprises with revenues between $4 million and $25 million of EBITDA, facilitating strategic and operational support that helps these businesses unlock their true potential.

For more information on Atlantic Street Capital, please visit www.atlanticstreetcapital.com.