Ridgewood Infrastructure and Savage’s US transportation infrastructure business have acquired Worldwide Terminals Fernandina, the manager of the Port of Fernandina in Florida.
Transportation Infrastructure Partners has invested an undisclosed amount to purchase an intermodal terminal handling essential bulk, bulk and containerized cargo from Fernandina.
Ridgewood Infrastructure and global transportation and material handling company Savage established transportation infrastructure partners in early 2020.
The joint venture acquired Carolina Marine Terminal, a multimodal dry cargo marine port facility in Wilmington, North Carolina in June 2020.
Fernandina is the joint venture’s second acquisition.
Ryan Stewart, Ridgewood Infrastructure Partner, said, “Fernandina’s deep water port, storage facilities and access to major rail and road routes form the backbone of a critical infrastructure business.
“Under the leadership of Transportation Infrastructure Partners, we see significant opportunities to expand and improve Fernandina’s operations.”
Kirk Aubry, President and CEO of Savage, said, “Fernandina is a great addition to our portfolio of joint ventures and strengthens the Savage network of nearly 50 ports and terminals.
“We will continue to focus on enhancing the Port’s well-deserved reputation as a provider of essential supply chain services to current and future customers.”
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