BTG Capital has acquired Newfoundland and Labrador’s shuttered Stephenville International Airport through a court-monitored sale for an undisclosed price with plans to reopen the facility.

The company announced Tuesday that purchased the property in Stephenville, NL on behalf of behalf of BTG Critical Infrastructure Co-Invest LP I and Stephenville International Airport Corp. (SIAC), establishing what it describes as a long-term strategic infrastructure platform in Atlantic Canada. Supreme Court of Newfoundland and Labrador in Bankruptcy and Insolvency filings show that BTG bought the airport and surrounding lands as part of a receivership sale.

BTG loaned funds to the previous owner, 15132738 Canada Inc., and pushed the firm into receivership in January after the previous owner missed debt payments, amid concerns that the airport was at risk of becoming a distressed asset.

According to Insolvency Insider, BTG was owed approximately $2.5 million. Transport Canada downgraded the facility to an aerodrome in March 2025 after it had traditionally operated as airport. The facility closed in June 2025 after Newfoundland Power disconnected its electricity due to unpaid bills.

The court approved the sale to BTG after the company served as a stalking-horse bidder as part of a sales-and-solicitation process, court filings indicate. The acquisition transfers ownership and operation of the airport to SIAC, which plans to reposition the facility as a transportation, logistics and economic development hub serving the province and the broader Atlantic region.

BTG said the airport’s extensive runway infrastructure, geographic location and development lands provide opportunities to support cargo operations, aerospace activity, advanced manufacturing and other industrial uses.

“Stephenville represents a highly differentiated infrastructure investment opportunity with exceptional long-term strategic value,” said Brett Stevenson, managing partner and founder of BTG. “We see a compelling opportunity to develop a premier Atlantic Canadian aviation, logistics and industrial platform capable of supporting long-term economic development, transportation connectivity and investment across the region.”

The company said it intends to pursue investments aimed at modernizing airport operations, attracting new business activity and supporting regional economic development.

BTG said it has engaged the Loomex Group to provide advisory, regulatory and day-to-day airport management support for SIAC. Loomex manages six regional airports across Canada and provides services to other North American airports.

BTG expects Loomex to provide “important support” as the Stephenville airport furthers its development on the path to resuming its operations.

The shuttered airport is located on Newfoundland’s west coast and has one of the longest runways in Canada. The airport has previously served military, commercial and cargo aviation operations. The purchase comes as the federal government is investing billions of dollars in Atlantic Canada and across the country in military-facility upgrades as part of its commitment to increase expenditures in accordance with NATO guidelines.

Ottawa has also allocated billions as part of its efforts to procure more military equipment and goods from domestic sources, reducing its reliance on U.S. sources.

BTG is banking that defence and sovereignty-related investment across Canada and NATO jurisdictions will increase as strategically located transportation and logistics infrastructure become more important as North American supply-chain priorities evolve. The company is looking to capitalize on industrial reshoring trends and increasing demand for secure strategically located infrastructure assets.

“Atlantic Canada is increasingly becoming a focal point for infrastructure, logistics and industrial investment,” said Stevenson. “Stephenville’s infrastructure footprint, geographic positioning and scalability create a compelling foundation for long-term development. We believe the airport has the potential to become an important economic and transportation hub for Newfoundland and Labrador and the broader Atlantic Canadian region.”

BTG is a Calgary-based investment firm focused on infrastructure, transportation and other critical asset sectors. The company invests in and manages projects intended to support long-term economic growth and essential services.

Pictured: Stephenville International Airport in Stephenville, NL.

Photo: CNW Group/BTG Capital

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