CHICAGO, July 20, 2022 /PRNewswire/ — Peakstone served as exclusive financial advisor to Worldwide Terminals Fernandina, LLC (“WWTF”) on its 100% sale to Transportation Infrastructure Partners (“TIP”), a joint venture between Ridgewood Infrastructure, LLC and Savage. With the acquisition, TIP assumes the terminal operator role at the Port of Fernandina. The Port of Fernandina, northeast of Jacksonville, FL, is a strategic intermodal terminal handling essential bulk, breakbulk, and containerized cargo. The port provides mission-critical transport, logistics management, and product handling services to a diverse customer base.
Ridgewood Infrastructure, a leading infrastructure investor in the U.S., and Savage, a global transportation and materials handling company, established Transportation Infrastructure Partners to jointly acquire and operate essential transportation and logistics infrastructure throughout the United States.
For more information about the Port of Fernandina, visit www.portoffernandina.org
“Fernandina’s deep-water port, storage facilities, and access to major rail and highway routes form the backbone of an essential infrastructure business,” said Ryan Stewart, Partner of Ridgewood Infrastructure. “Under Transportation Infrastructure Partners’ leadership, we see significant opportunities to expand and enhance Fernandina’s operations”
Kirk Aubry, President and Chief Executive Officer 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.”
Terms of the transaction were not disclosed.
For additional information please contact:
Eric Zampol, Managing Director, 415-706-1175, [email protected]
Stephen Sleigh, Managing Partner, 312-771-1471, [email protected]
About Peakstone
Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com.
SOURCE Peakstone
