Ridgewood Infrastructure and Savage’s US transportation infrastructure venture has acquired Worldwide Terminals Fernandina, the manager for the Port of Fernandina in Florida.
Transportation Infrastructure Partners has invested an undisclosed amount to buy Fernandina an intermodal terminal handling essential bulk, breakbulk, and containerised cargo.
Ridgewood Infrastructure and global transportation and materials handling company Savage established Transportation Infrastructure Partners in early 2020.
The joint venture acquired Carolina Marine Terminal, a multi-modal marine dry goods bulk port facility in Wilmington, North Carolina in June 2020.
Fernandina is the joint venture’s second acquisition.
Ryan Stewart, partner of Ridgewood Infrastructure, said: “Fernandina’s deep-water port, storage facilities, and access to major rail and highway routes form the backbone of an essential infrastructure business.
“Under Transportation Infrastructure Partners’ leadership, we see significant opportunities to expand and enhance Fernandina’s operations.”
Kirk Aubry, president and CEO of Savage, said: “Fernandina is a great addition to our joint-venture portfolio and strengthens the Savage network of nearly 50 ports and terminals.
“We’ll continue to focus on enhancing the Port’s well-deserved reputation for delivering critical supply chain services for current and future Customers.”
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