InfraRed Capital Partners is acquiring C3 Limited, a New Zealand-headquartered port logistics and materials handling business, from Brookfield.
The infrastructure asset manager has agreed the acquisition on behalf of one of its value-add funds.
C3 is a provider to New Zealand’s ports and to Australian and New Zealand forestry sectors, delivering essential infrastructure services to companies across national import and export supply chains. It operates 15 strategic port and inland sites throughout New Zealand and Australia, supporting port-side container logistics as well as large exporters across diversified sectors.
InfraRed said C3 handles approximately half of New Zealand’s total log exports, representing around NZ$3.4bn (€1.7bn) of annual export revenue.
C3 also operates critical container logistics operations and port equipment across New Zealand, providing integrated logistics services to exporters across multiple sectors including dairy, agriculture and energy, and handles around half of containers at the country’s busiest port, Tauranga.
Sven Stubican, head of European and Asia-Pacific investments, value-add at InfraRed, said: “What makes C3 particularly compelling is the opportunity to enhance its established position in the container handling and forestry supply chain by broadening the services it offers customers.
“Over decades, the business has developed a strategic port presence, deep customer relationships and specialist operational capabilities, providing a strong platform for expansion. C3 benefits from a resilient base of core earnings, and we will seek to build on this via attractive adjacent opportunities.
“InfraRed has been active across Australia and New Zealand for more than 15 years and has made and realised multiple value-add investments in the region. In acquiring C3, we are backing an experienced management team with a strong track record and will leverage our long-standing local experience to support the business in delivering its next phase of growth.”
Gavin Hudson, CEO of C3, said: “C3 plays an important role in connecting New Zealand and Australian exporters to international markets, built on decades of operational know-how and strategic port and inland locations. We’re proud of what the team has achieved and excited to be working with InfraRed to broaden our services across the export value chain, as we continue to seek new opportunities to support our customers.”
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