Our multi-disciplinary team has advised Rigby Group (RG) PLC on the sale of Regional & City Airports (RCA) to FTSE 100 asset manager ICG, marking a major milestone in UK regional aviation and infrastructure investment.
RCA operates Bournemouth, Exeter, and Norwich Airports, alongside XLR Executive Jet Centres. Under Rigby Group's ownership since 2013, RCA has grown into one of the UK's leading regional airport operators, recognised for innovation, sustainability, and commercial success.
The Gowling WLG team advising was led by Corporate Partner Anurag (Ragi) Singh, supported by Vic Sewak, Katie Dunnaker (Corporate), Kate Featherstone (Tax), Angela Rawlins (Banking and Finance). Anna Colley and Matthew Walker (Real Estate), Ben Stansfield (Environmental), Amar Adatia (Solvent Reorganisations) and a wider cross-practice team. Their collaborative approach and sector expertise were key to delivering a complex, high-value transaction.
Steve Rigby, Co-CEO of Rigby Group, commented: "After more than a decade of successfully growing the Regional & City Airports ("RCA") business the time was right to pass on the stewardship of RCA to a global alternative asset manager with a dedicated infrastructure team. We knew this transaction would require a legal team with significant airport, aviation, real estate and environmental expertise as well as a corporate and finance team with sufficient depth and the risk allocation and negotiation skills to see a nuanced and complex deal over the line. In Ragi, Vic, Kate, Angela and the wider Gowling WLG team we found exactly what we needed and really appreciated their commitment and proactive, solutions led advice."
The new partnership will see ICG's European Infrastructure team support RCA's continued growth, with RCA set to expand its airports, cargo and executive aviation operations. ICG will work closely with the RCA's leadership and talented workforce through this new cycle.
Following a period of strong performance, operational transformation, and investment, RCA had become a model of successful regional aviation. Under Rigby Group's stewardship, passenger numbers had risen to over 2 million, up 13% year-on-year, providing clear evidence of RCA's sustained growth.
This transaction reinforces Gowling WLG's position as a trusted advisor in strategic infrastructure deals, delivering commercially driven, sector-specific insight.