ICG Partners with Regional & City Airports for UK Aviation Growth - InforCapital

London & UK Regions — Regional & City Airports (RCA), operator of Bournemouth, Exeter and Norwich Airports and owner of XLR Executive Jet Centres, has entered a strategic partnership with global infrastructure investor ICG. The move ends a 12‑year ownership period with Rigby Group and is expected to close later this month.

ICG’s European Infrastructure team will support RCA’s next growth cycle—targeting expansion in airport operations, cargo logistics, and executive aviation services alongside accelerating sustainable aviation initiatives.

Under Rigby Group’s stewardship, RCA grew passenger traffic to over 2 million annually, a 13% year‑on‑year rise, positioning it as one of Europe’s high-performing regional airport operators.

Comparable UK airport transactions:

• AviAlliance’s £1.53 billion acquisition of AGS Airports (Aberdeen, Glasgow, Southampton) from Ferrovial and Macquarie in November 2024, followed by a £235 million minority stake sale to Blackstone in March 2025. This deal showcases demand for UK airports with strong catchment regions and growth plans.:contentReference[oaicite:1]{index=1}
• Macquarie Asset Management recently secured a 55% stake in Bristol Airport, a 26.5% share in Birmingham Airport, and 25% in London City Airport from Ontario Teachers’ Pension Plan—transactions that are expected to close by year‑end 2025 and cover over 25 million annual passengers.:contentReference[oaicite:2]{index=2}
• The Carlyle Group’s purchase of an ~82.5% stake in London Southend Airport in 2024, paired with £32 million in committed investment—highlighting continued interest in smaller gateway airports.:contentReference[oaicite:3]{index=3}

The deals above reflect a broader wave of private capital entering the UK aviation sector—with investors placing emphasis on sustainable infrastructure upgrades, regional connectivity, stable cash flows, and regulatory alignment.

ICG’s partnership with RCA places the group at the forefront of this trend. By combining RCA’s operational track record with ICG’s capital and strategic infrastructure expertise, the partnership aims to fuel future growth without compromising UK-based stewardship, governance, or regional economic impact.