Regional & City Airports (“RCA” or “the Company”), the operator of Bournemouth, Exeter and Norwich Airports and owner and operator of XLR Executive Jet Centres, today announced that it has entered into an agreement to partner with global alternative asset manager, ICG, after more than a decade of successful collaboration with Rigby Group. The transaction is due to close later this month.
The new partnership will see ICG’s European Infrastructure team support RCA’s continued growth, with the Company set to expand its airports, cargo and executive aviation operations. ICG is also focused on working with RCA to further accelerate sustainable aviation practices across its operations. RCA is poised to enter an ambitious new phase, with its strategic priorities remaining unchanged. ICG will work closely with the Company’s leadership and talented workforce through this new cycle.
Following a period of strong performance, operational transformation, and investment, RCA has become a model of successful regional aviation. Under Rigby Group’s stewardship, passenger numbers have risen to over 2 million, up 13% year-on-year, providing clear evidence of RCA’s sustained growth.
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.
For further information please contact:
ICG
Clare Glynn
Head of Corporate Communications
+44 20 3545 1395
[email protected]
Rigby Group
Peter Evans
Fieldhouse Associates
+44 7921 553767
[email protected]
About ICG
ICG (LSE: ICG) is a global alternative asset manager with $123bn* in AUM and more than three decades of experience generating attractive returns. We operate from over 20 locations globally and invest our clients’ capital across Structured Capital; Private Equity Secondaries; Private Debt; Credit; and Real Assets. Our exceptional people originate differentiated opportunities, invest responsibly, and deliver long-term value. We partner with management teams, founders, and business owners in a creative and solutions-focused approach, supporting them with our expertise and flexible capital. For more information visit our website and follow us on LinkedIn.
ICG European Infrastructure manages more than €5bn in Europe and seeks to partner with successful management teams and founders, to provide growth capital to mid-market businesses across the energy transition, digital and mobility sectors. The team leverages ICG’s DNA of bespoke capital solutions, investing across capital structures in equity and structured equity instruments creating a defensive risk-return profile for its portfolio whilst seeking to deliver consistent returns for its investors.
*As at 30 June 2025.
About Rigby Group
A multinational, service-based holding company for a portfolio of privately-owned businesses, Rigby Group is family-owned and has, since its inception in 1975, built a distinguished reputation as both an investor and business operator. Renowned for our independent thinking, and our approach to acquiring and nurturing businesses, we enable companies within the Group to be the very best they can be.
The Group has three main divisions: SCC, the principal trading business, and Europe’s largest privately owned IT services company; Rigby Technology Investments, which operates majority and minority investments in technology businesses; and the Group’s Real Estate assets portfolio covering commercial, hospitality and residential real estate assets.
Rigby Group operates in nine countries, and generates a £3.7bn turnover. We are a trusted partner to the government, the military, global corporations, major charities, and thousands of medium-sized organisations.
Our charitable trust, The Rigby Foundation, (registered charity No 1207788) operates independently from the Group was founded and operates on the principle that success in business goes hand-in-hand with putting back into society and communities. The Foundation receives Group funding for its activities. Over the last 30 years the Rigby Foundation has supported multiple charities and causes, it is now focused on supporting young people from disadvantaged backgrounds in the West Midlands.
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