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September 30, 2021updated 16 Nov 2021 6:55am

CPP Investments assumes sole ownership of Ports America

Founded in 1921, Ports America manages 13.4 million TEUs annually.

Canada Pension Plan (CPP) Investments has signed a definitive agreement to take over North America’s largest marine terminal operator, Ports America.

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Through the purchase of interest from funds handled by Oaktree Capital Management, CPP Investments will now become the sole owner of Ports America.

The deal, anticipated to close in Q4 2021, is pending regulatory approval. The financial terms of the transaction were not shared.

Since 2014, CPP Investments has held a minority stake in Ports America and will continue to back the business with long-term capital.

CPP Investments managing director and infrastructure head Scott Lawrence said: “Ports America represents the opportunity to continue to invest in a high-quality operator that plays an important role in global trade, making the company a good fit for our long-term infrastructure investment strategy.

“Terminal operators play a crucial role as cargo demand and transportation requirements continue to grow in response to the rapid and dynamic changes in how individuals and businesses are buying and selling products.”

Oaktree managing director and infrastructure investing strategy co-portfolio manager Emmett McCann said: “Ports America’s growth, track record of innovation and strong financial profile have positioned the company for success in today’s cargo management and terminal operations environment, and we fully expect the business will only benefit from this new ownership structure.”

Founded in 1921, Ports America is said to have ‘driven a century’s worth of innovation in stevedoring, cargo handling, and best-in-class terminal operations’.

It has 70 locations in 33 ports around the three US coasts.

Ports America manages 13.4 million twenty-foot equivalent units (TEUs) annually, including ten million tonnes of general cargo, 2.5 million vehicles and 1.7 million cruise ship passengers.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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