Transportation Infrastructure Partners, a joint venture (JV) of Ridgewood Infrastructure and Savage, has purchased Worldwide Terminals Fernandina for an undisclosed sum.
Fernandina manages and operates the Port of Fernandina in Florida, US.
Situated north-east of Jacksonville, the port serves as a strategic intermodal terminal that handles essential bulk, breakbulk and containerised cargo.
The site delivers mission-critical transport, logistics management and product handling services to a wide range of customers.
Fernandina has cargo stevedoring expertise for the management of complex and demanding cargo loading and discharge operations, ranging from wood pulp to kraft liner board, lumber discharge and containerised operations.
It presently has more than 230,000ft² of on-terminal warehousing with rail connectivity.
Transportation Infrastructure Partners was established by Ridgewood and Savage to jointly take over and manage vital transportation and logistics infrastructure across the US.
Fernandina is the JV’s second takeover and is said to complement its Carolina Marine Terminal operations in Wilmington, North Carolina.
Savage serves as the operator of the investments made by the JV.
Ridgewood Infrastructure partner Ryan Stewart said: “Fernandina’s deep-water port, storage facilities, and access to major rail and highway routes form the backbone of an essential infrastructure business.
“Under Transportation Infrastructure Partners’ leadership, we see significant opportunities to expand and enhance Fernandina’s operations.”
Ridgewood is an investor in essential infrastructure in the US lower middle market, while Savage is a global transportation and materials handling company.