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, Fla.
The Port of Fernandina, northeast of Jacksonville, Fla., 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.
“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.”