Ridgewood Infrastructure Announces Sale of APP
NEW YORK, March 11, 2026 /PRNewswire/ -- Ridgewood Infrastructure ("Ridgewood"), an investor focused on essential infrastructure in the United States lower middle market, today announced the successful sale of APP Jet Center ("APP"), a fixed-base operator ("FBO") platform providing critical aviation infrastructure services, to Bain Capital.
APP operates high-quality aviation facilities across major U.S. metropolitan markets, serving a diversified base of corporate, government, and private aviation customers. Ridgewood acquired a controlling interest in APP through a bilateral transaction and partnered with management to drive organic growth initiatives, expand hangar capacity, and complete a material add-on acquisition that increased the company's presence in Florida — one of the most active private aviation markets in the United States.
"We are proud of the work accomplished alongside APP's management team," said Ryan Stewart, Partner at Ridgewood Infrastructure. "Our focus was on delivering consistent, high-quality service for APP's customers while thoughtfully expanding the business. By strengthening leadership, enhancing operational discipline, and investing in additional capacity, we positioned APP as a scaled and strategic general aviation infrastructure platform."
Ross Posner, Managing Partner at Ridgewood Infrastructure, added, "APP exemplifies our strategy in action. We identified a high-quality lower middle-market infrastructure business, partnered with management to scale and professionalize the platform, and ultimately positioned it for exit to an owner seeking a durable infrastructure business with continued growth potential. This transaction reflects the repeatability of our approach."
Bain Capital intends to build upon APP's established footprint and continue expanding in attractive aviation markets across the United States.
The transaction closed in March 2026. Financial terms were not disclosed.
King & Spalding served as legal advisor and Harris Williams served as financial advisor to Ridgewood Infrastructure.
About Ridgewood Infrastructure
Ridgewood Infrastructure invests in essential infrastructure businesses with areas of focus including transportation, water, utilities, and energy. The firm focuses on lower middle-market companies providing critical services with inelastic demand profiles and clear opportunities for operational enhancement and strategic growth.
Contact Information:
Ridgewood Infrastructure
527 Madison Avenue, 18th Floor
New York, NY 10022
Phone: (212) 867-0050
Email: [email protected]
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