On January 22, 2026, Lone Star Funds announced that an affiliate of Lone Star Fund XII, L.P. entered into a definitive agreement to acquire Alliance Ground International (AGI), a leading North American airport services provider, from Greenbriar Equity Group and Audax Private Equity. The acquisition was completed on March 26, 2026. Financial terms of the transaction were not disclosed. Founded in 1987 and headquartered in Miami, AGI operates at over 60 airports in the United States and Canada with a workforce of more than 12,000 professionals, providing mission-critical outsourced services including air cargo handling, passenger terminal, ground handling, mail handling, security, and hospitality services that enable the efficient movement of cargo and passenger aircraft through major airport hubs. Lone Star, a leading global investment firm that has organized 26 private equity funds with aggregate capital commitments totaling approximately US$96 billion (approximately C$133 billion), will partner with AGI's management team to drive growth, invest in scaling operations across multiple segments, and expand its offerings in new and existing markets. Evercore served as financial advisor and Davies and Vinson & Elkins as legal counsel to Lone Star, while BofA Securities served as financial advisor and Ropes & Gray as legal counsel to AGI.