Blackstone said March 10 that it invested in Carrix. Financial terms weren’t announced. Carrix is a marine terminal operator, with activities at more than 250 terminal facilities and rail operations throughout geographies in the U.S., Canada, Mexico, Central America, South America, Asia, New Zealand and South Africa.
Blackstone Infrastructure Partners Announces Growth-Oriented Investment in Carrix, One of the World’s Largest Marine Terminal Operators
New York, NY, March 10, 2019 – Blackstone (NYSE: BX) today announced that funds affiliated with Blackstone Infrastructure Partners (BIP), have made a growth-oriented investment in Carrix, the largest marine terminal operator in the U.S. and in the Americas. Terms of the transaction were not disclosed.
Carrix is the parent company of SSA Marine and its related affiliates with combined operations at over 250 port and rail locations worldwide, include 16 container terminals in Long Beach, Oakland, Seattle and Tacoma, Panama, Mexico, Chile, Colombia and Vietnam.
“We are pleased that BIP has invested in Carrix and will be working with us to continue our on-going growth and development,” said Jon Hemingway, Chairman of Carrix. “Along with its affiliates, BIP brings an amazing network of highly skilled and experienced people, global relationships, expertise in a diverse array of businesses, and myriad capabilities to apply. When combined with our experience in the port industry and infrastructure development, we have substantially broadened what our shareholders and directors can do to support Carrix and its management team.”
“Since its founding in 1949, the Carrix team has built the leading ports business in the Americas, with a strong track record of growth and innovation,” said Sean Klimczak, Global Head of Infrastructure at Blackstone. “We are excited to partner with the two existing shareholder families to support the expansion of Carrix. This platform investment fits well with our strategy of developing partnerships with industry leaders behind whom we can continue to invest additional capital for decades to come.”
The transaction is expected to close by the end of April.
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies in which we invest, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies grow. Our asset management businesses, with $472 billion in assets under management, include investment vehicles focused on infrastructure, private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on twitter @Blackstone.
Carrix is the world’s largest independent, privately-held marine terminal operator, with activities at more than 250 terminal facilities and rail operations throughout geographies in the U.S., Canada, Mexico, Central America, South America, Asia, New Zealand and South Africa. Since its founding in 1949, Carrix has continued to grow, always focusing on its customers’ interests. Recently, a subsidiary of Carrix completed a major expansion of its Oakland International Container Terminal, providing a 284 acre facility with 5 continuous berths and will include 10 Post-Panamax container cranes ready to handle the largest vessels calling at the port. Other affiliates of Carrix are working on significant expansion projects in several geographies, including the recently announced Blount Island Marine Terminal in Jacksonville.
Carrix is also the parent company of other businesses that provide marine and rail terminal management.