NEW YORK, July 14, 2022 (GLOBE NEWSWIRE) -- Transportation Infrastructure Partners, a joint venture between Ridgewood Infrastructure, LLC and Savage, today announced the acquisition of Worldwide Terminals Fernandina, LLC (Fernandina), the manager and operator for the Port of Fernandina, Florida.
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. Fernandina is Transportation Infrastructure Partners' second acquisition, complementing the joint venture’s successful Carolina Marine Terminal operations in Wilmington, North Carolina. 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.”
About Transportation Infrastructure Partners
Transportation Infrastructure Partners is a joint venture between Ridgewood Infrastructure and Savage, focused on acquiring and operating critical transportation and logistics infrastructure throughout the United States. Savage is the operator of investments made by the joint venture.
About Ridgewood Infrastructure
Ridgewood Infrastructure is a leading investor in essential infrastructure in the U.S. lower middle market. It is part of the affiliated Ridgewood Companies, a leading real asset investment manager with approximately $5 billion in total capital and commitments. For more information, visit www.ridgewoodinfrastructure.com.
About Savage
In business for 76 years, Savage is a privately held, global provider of industry infrastructure and supply chain services, with approximately 4,000 Team Members in over 200 locations. Our Customers and Partners count on us to safely and sustainably move and manage what is essential to their business. We enable our Customers and Partners to Feed the World, Power Our Lives, and Sustain the Planet. For more information, visit www.savageservices.com/savage-companies.
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