Harris Williams Advises Carolina Marine Terminal, Inc. on its Investment from Transportation Infrastructure Partners, a Joint...
02 June 2020 - 3:46AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised Carolina
Marine Terminal, Inc. (CMT), a leading privately owned port
facility, on its investment from Transportation Infrastructure
Partners, a joint venture between Ridgewood Infrastructure and
Savage. The transaction was led by Jeff Burkett, Jonathan Meredith
and Brett Bordlee of the Harris Williams Transportation &
Logistics (T&L) Group and is a testament to the ability to
achieve successful outcomes despite today’s uncertain market.
“This transaction deepens our firm’s experience advising
companies across the highly attractive transportation
infrastructure space,” said Jeff Burkett, a director at Harris
Williams. “Co-founders Mike McCarley and Kevin Walker have designed
and grown CMT into a truly unique marine terminal asset. We believe
Savage and Ridgewood Infrastructure will continue to build upon
CMT’s legacy of premier quality, efficiency and customer
service.”
“We continue to see strong interest in strategic infrastructure
assets with compelling competitive advantages,” said Jonathan
Meredith, a vice president at Harris Williams. “We are proud to
have represented CMT on this transaction and look forward to
following the company’s next chapter in partnership with
Transportation Infrastructure Partners.”
“Unique essential businesses that own or provide critical
services to strategic infrastructure assets are attractive platform
and add-on M&A opportunities for a myriad of investors.
Providing world-class advisory services to infrastructure
businesses like CMT is the focus of our transportation
infrastructure services (TIS) sector initiative. We expect this
transaction will be the first of many coming out of our TIS
efforts,” said Frank Mountcastle, co-head of the Harris Williams
T&L Group.
CMT is a privately owned marine terminal specializing in dry
bulk cargoes. Located in Wilmington, North Carolina, the company
offers a full range of services that span stevedoring, storage and
warehousing, and distribution via both truck and rail.
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 will be the operator of
investments made by the joint venture.
Ridgewood Infrastructure invests in essential infrastructure in
the U.S. In addition to Transportation Infrastructure Partners,
some of Ridgewood’s recent investments include the Vista Ridge
Regional Water Supply Project, a long‐term contracted 142‐mile
water pipeline, which is expected to supply the city of San
Antonio, Texas with approximately 20% of its fresh water; Undine
LLC, which owns and operates regulated water and wastewater
utilities in several major U.S. markets; and SiEnergy, which is
among the largest and fastest growing regulated natural gas local
distribution companies in Texas, serving approximately 25,000
customers. Ridgewood Infrastructure is part of the affiliated
Ridgewood Companies, a leading real asset investment manager with
$6 billion in total capital and commitments focused on investments
in infrastructure and energy.
Established in 1946, Savage moves and manages critical materials
for Customers using rail, trucks and marine vessels, and through
the design, construction and operation of terminals and other
industrial facilities across North America and internationally. The
company’s purpose is to enable Customers and Partners to “Feed the
World, Power Our Lives, and Sustain the Planet.” Savage provides
comprehensive services across Customers’ supply chains in the
agriculture, energy and chemical and environmental sectors.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams T&L Group serves companies in a broad
range of attractive niches, including automotive and heavy duty
vehicle, transportation equipment, third-party logistics (3PL), and
truck, rail, marine and air transportation. For more information on
the firm’s T&L Group and other recent transactions, visit the
T&L Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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