Regional & City Airports (RCA), the operator of Bournemouth, Exeter and Norwich Airports and the owner and operator of XLR Executive Jet Centres, has announced a new partnership with global alternative asset manager ICG. This follows more than a decade of successful collaboration with Rigby Group. The transaction is expected to close later this month.

Through this partnership, ICG’s European Infrastructure team will support RCA as it continues to grow its airport, cargo and executive aviation operations. A key focus will also be on accelerating sustainable aviation initiatives across RCA’s network. While entering this ambitious new chapter, RCA’s strategic priorities will remain the same. ICG plans to work closely with the company’s leadership and workforce throughout this next phase.

RCA has demonstrated strong performance in recent years through operational improvements and ongoing investment. Under Rigby Group’s ownership, annual passenger numbers have increased to more than 2 million, reflecting a 13 percent year-on-year rise and underscoring RCA’s consistent growth in the regional aviation sector.

Steve Rigby, Co-CEO of Rigby Group, commented: “Rigby Group has been a committed investor in these regional airports since 2013. Regional & City Airports comprises a thriving group of airports, strategically important in their regions and growing at above market rates. Following our successful stewardship, now is the right time for the next phase in Regional & City Airports’ growth in collaboration with an infrastructure fund with the investment capability and appetite to ensure these airports and their associated property reach their full potential. We are delighted to see the Company partner with ICG, a FTSE100 asset manager, keeping these key UK assets in UK stewardship.”

Andrew Bell, Chief Executive of Regional & City Airports, commented: “Regional & City Airports has flourished into one of the leading UK airport groups and a high-performing enterprise. We are now ready to accelerate further – with the help of our new partner, ICG. Across our networks, it will be business as usual, with the same outstanding team and vision, boosted by renewed momentum to drive our continued growth, innovation and sustainability in regional aviation. I’m proud of our team and everything we’ve achieved and look keenly ahead to what’s next.”

Ludovic Laforge, Managing Director at ICG European Infrastructure, commented: “We’re proud to be partnering with one of the UK’s most dynamic regional airport groups in a transaction that underscores our commitment to supporting high-potential infrastructure assets. Regional & City Airports enjoys very robust fundamentals with high-quality leadership, a successful regional focus, and strong revenue diversification. A key part of our plan will be to work with the team to further accelerate the transition towards sustainable operations while delivering on the attractive growth potential the platform offers.”