Blackstone has announced that funds affiliated with Blackstone Infrastructure Partners (BIP) have invested in marine terminal operator Carrix.
The financial terms of the deal have not been disclosed.
Established in 1949, Carrix is one of the largest privately held marine terminal operators in North and South America.
Carrix, along with its subsidiary SSA Marine and its related affiliates, has combined operations at more than 250 port and rail locations across the world. It includes 16 container terminals across various locations.
Carrix chairman Jon Hemingway said: “Along with its affiliates, BIP brings an amazing network of highly skilled and experienced people, global relationships, expertise in a diverse array of businesses, and myriad capabilities to apply.
“When combined with our experience in the port industry and infrastructure development, we have substantially broadened what our shareholders and directors can do to support Carrix and its management team.”
The transaction is expected to close by the end of next month.
A Carrix subsidiary has recently completed a major expansion of its Oakland International Container Terminal. The expansion included delivering a 284-acre facility with five continuous berths.
The terminal now includes ten Post-Panamax container cranes capable of managing the largest vessels docking at the port.
Various other Carrix affiliates are currently working on such expansion projects. The company recently announced the expansion of the Blount Island Marine Terminal in Jacksonville in the US.
Commenting on the investment, Blackstone Infrastructure global head Sean Klimczak said: “Since its founding in 1949, the Carrix team has built the leading ports business in the Americas, with a strong track record of growth and innovation.
“We are excited to partner with the two existing shareholder families to support the expansion of Carrix.”