U.S. terminal and logistics company Enstructure, reports that it has entered into a definitive agreement to acquire Patriot Port Holdings LLC.
Patriot Ports, the ports division of Patriot Rail & Ports and a sister company of Patriot Rail Company LLC, operates six terminals in Jacksonville, Fla., Savannah, Ga., Mobile, Ala., and Sunny Point, N.C., with approximately 1.2 million square feet of industrial warehouse capacity, including 10.2 million cubic feet of cold storage. Patriot Ports handles a diverse mix of commercial and breakbulk cargos, including forest products, poultry, seafood, steel products, and military equipment.
Following the acquisition, Enstructure will operate twelve terminals along the U.S/ East Coast and Inland River System with over 600 employees and approximately 3.2 million square feet of industrial warehouse capacity, including 19.2 million cubic feet of cold storage.
“Enstructure’s expertise in terminal and cold storage operations made the company a natural fit,” said John E. Fenton, CEO of Patriot Ports. “Over 150 Patriot Ports employees, including all operating personnel and management will remain in place following the acquisition. We are confident that Enstructure’s best-in-class service will ensure a seamless transition for Patriot Ports’ customers and employees. This transaction will allow Patriot to focus on growth in our core rail business moving forward.”
Closing is expected in early July and as part of the transaction, Patriot Ports’ subsidiaries, Portus Holdings LLC and Seaonus Holdings LLC along with their subsidiaries, will be acquired by Enstructure.