ICG Set to Acquire Three Major UK Regional Airports in Landmark £200 Million Deal

Published: 03 August ‘2025. The English Chronicle Online

In a move that underscores renewed investor confidence in the UK’s aviation sector, London-listed investment powerhouse ICG is reportedly finalising a major acquisition of three regional airports—Bournemouth, Exeter, and Norwich—for a combined value of approximately £200 million. Sources close to the deal indicate that a formal agreement with the current owner, Rigby Group, is expected to be signed later this month.

This significant transaction is set to reshape the landscape of regional air travel in Britain. Collectively, the three airports handle just over two million passengers annually and play a crucial role in connecting regional cities to domestic and international destinations. For ICG (Intermediate Capital Group), the acquisition represents a strategic expansion of its infrastructure portfolio at a time when the aviation sector is steadily rebounding from the deep turbulence caused by the COVID-19 pandemic.

The seller, Rigby Group, is a privately held conglomerate with a wide-ranging footprint across hospitality, technology, and infrastructure. The airports have been under its ownership through its Regional and City Airports division. Among the three, Exeter Airport holds a particularly significant place in the narrative of British regional aviation, having once served as the hub for Flybe—an airline that ultimately succumbed to the financial pressures exacerbated by the pandemic.

ICG’s acquisition is not happening in isolation. The past year has witnessed a notable uptick in investor interest in UK aviation assets. Infrastructure-focused firms and global investment houses are betting on a long-term recovery of the travel sector, with expectations of rising passenger numbers and renewed demand for air connectivity.

Just last year, AviAlliance—a subsidiary of Canadian pension fund PSP Investments—acquired the holding company of Aberdeen, Glasgow, and Southampton airports in a deal worth £1.55 billion. Meanwhile, London City Airport has seen a major shift in its shareholder structure, with Australia’s Macquarie Group taking a prominent stake. Not to be left behind, French investment firm Ardian recently boosted its commitment to Heathrow Airport, which is currently pushing forward with ambitious expansion plans projected to cost tens of billions of pounds.

The heightened activity reflects a broader trend of infrastructure investors seeking stable, long-term returns in sectors showing post-pandemic recovery potential. Airports, especially regional ones, are becoming attractive propositions once more, particularly given their role in boosting regional economies and improving access to air travel outside of the London hub.

ICG’s entrance into this space marks a confident vote of trust in the ongoing revival of British aviation and the resilience of regional air travel. While the fine details of the agreement are yet to be disclosed, the reported £200 million price tag signifies a significant capital commitment and suggests that ICG intends to play a serious role in shaping the future of regional connectivity across the UK.

With the formal signing expected later this month, all eyes will be on how ICG plans to manage, develop, and potentially expand operations at Bournemouth, Exeter, and Norwich. As the sector continues to rebound, the acquisition could well prove to be both a timely investment and a catalyst for regional airport growth in the coming decade.