Asset management company acquires stake in Birmingham Airport
Birmingham Airport has a new shareholder after Ontario Teachers’ Pension Plan agreed to sell its stake to Macquarie Asset Management.
Macquarie is acquiring ownership stakes in Birmingham, Bristol and London City airports from OTPP.
OTPP first invested in UK airport infrastructure in 2001 before acquiring a direct shareholding in Birmingham Airport (BHX) in 2007.
Since then, Birmingham has experienced 35 per cent growth in passengers from 9.6 million in 2007 to over 13 million at the end of 2024.
Significant investments totalling over £425m been made to modernise and expand BHX, including extension of the runway, the opening of a new pier, a new baggage system, upgraded security and check in areas and an enhanced passenger drop off area.
Macquire is acquiring a 26.5 per cent stake in BHX from OTPP.
The rest of the airport is owned by the West Midlands councils and an employee share trust.
Charles Thomazi, senior managing director and head of infrastructure in EMEA at Ontario Teachers’, said: “UK airport infrastructure has been a key area of focus for Ontario Teachers’ over the past 20 years and we’re very proud to have supported Bristol, Birmingham and London City as they’ve grown, developed and continued to strengthen the experience for passengers.
“Each airport plays an important role in its region and, with all currently undergoing expansion programmes, will continue to grow and deliver for their passengers, communities and the broader economy.
“We’d like to thank our fellow shareholders for their collaboration and our management teams and airport staff for their dedication and support, not least during the Covid-19 pandemic.
“We are confident that BHX, BRS and LCY will continue to flourish and are pleased to be passing the baton to new investors Macquarie as they support them in the next stage of their growth.”
Gordon Parsons, a senior managing director at Macquarie Asset Management in EMEA, said: “As a leading investor in airports around the world, including the UK, we understand their importance to local communities and for economic growth.
“Collectively, Birmingham, Bristol and London City airports serve over 25 million passengers each year and are a valued home for leading regional and global airlines.
“Each airport has a unique path for growth ahead, and we’re supportive of the management teams’ plans to deliver enhanced customer experiences and more routes to each of the communities they serve.
“We look forward to playing our part, as a long-term investor, to support all three airports on their development in the years to come.”
Macquarie says the London City Airport acquisition has reached financial close, while the Bristol and Birmingham airport ownership stakes are expected to reach financial close by Q4 2025.
