ASUR’s subsidiary, ASUR US Commercial Airports, LLC, closed a $295 million purchase of URW Airports, LLC on December 11, 2025. The deal brings three of the United States’ busiest airports—John F. Kennedy International (JFK), Los Angeles International (LAX), and Chicago O’Hare (ORD)—under ASUR’s control, with the new division, ASUR Airports, LLC, set to manage commercial programs at LAX’s Tom Bradley International Terminal, ORD’s Terminal 5, and JFK’s Terminals 8 and New Terminal One.
The acquisition marks a strategic pivot for ASUR, a cloud‑based human capital management (HCM) software provider that reported $36.3 million in revenue for Q3 2025, up 24% year‑over‑year. By adding high‑traffic airport retail operations, ASUR diversifies its revenue mix beyond its core HCM business, positioning the company to capture a larger share of the lucrative U.S. airport concessions market. The move also aligns with ASUR’s broader growth strategy, which has seen recurring revenue rise to $31.8 million in Q3 2025 and adjusted EBITDA climb to $8.1 million.
The transaction was financed through a combination of ASUR’s existing cash reserves and a debt facility from JPMorgan Chase Bank, with a parent guarantee from ASUR’s Cancun Airport subsidiary. The financing structure preserves liquidity while enabling the company to invest in the integration of URW’s retail operations. The $295 million enterprise value represents a modest 2.4× multiple of ASUR’s Q3 2025 revenue, underscoring the strategic nature of the deal rather than a high‑price premium.
Operationally, ASUR will leverage URW’s expertise in data‑driven customer journeys and brand partnerships to enhance passenger experience and drive commercial revenue at the three terminals. The integration is expected to generate synergies through cross‑selling of HCM solutions to airport operators and by expanding ASUR’s footprint in a market with high growth potential. The creation of ASUR Airports, LLC, signals the company’s commitment to building a dedicated commercial division that can scale across additional U.S. airports in the future.
The acquisition positions ASUR to benefit from the steady demand for airport retail services, while its core HCM business continues to deliver robust recurring revenue. The combined entity will be better equipped to negotiate long‑term concessions, capitalize on data analytics, and pursue further expansion in the U.S. market, thereby strengthening ASUR’s competitive standing in the global airport concessions industry.
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