Enstructure to acquire Patriot Ports, further expand southeast terminal network
Continued expansion into high growth markets solidifies Enstructure’s position as a leader in North American terminal and cold storage infrastructure
Enstructure, a leading U.S. terminal and logistics company, announced that it has entered into a definitive agreement to acquire Patriot Port Holdings LLC (“Patriot Ports”).
Patriot Ports, the ports division of Patriot Rail & Ports and a sister company of Patriot Rail Company LLC (“Patriot Rail”), is an industry leader in breakbulk, specialty cargo and cold storage operations. The company operates six terminals in Jacksonville, FL, Savannah, GA, Mobile, AL, and Sunny Point, NC with approximately 1.2 million square feet of industrial warehouse capacity, including 10.2 million cubic feet of cold storage. With operations concentrated in strategic and growing economic hubs, 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 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.
"We are thrilled to welcome Patriot Ports to the Enstructure family of companies," said Matthew Satnick and Philippe De Montigny, Co-CEOs of Enstructure. "The combination will significantly enhance our leading East Coast and Inland River System terminal network serving bulk, breakbulk and cold storage customers. Patriot Ports further expands our terminal network into high growth markets and broadens our ability to provide best-in-class service to our customers."
"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.
About Patriot Rail Company LLC
Patriot Rail operates 13 regional and freight short line railroads, a scenic rail excursion train, and rail-related services companies with over 600 total rail miles across the United States. Service capabilities include railcar storage, railcar repair and maintenance, railway clean-up and transfer, tank car cleaning and environmental services, contract switching, transloading, engineering services, excursion railroads, real estate, and track access.
About Enstructure
Enstructure LLC is a logistics infrastructure company with corporate offices in Wellesley, Massachusetts and New York, New York. Enstructure owns and operates an integrated network of dry, liquid and breakbulk terminals and logistics assets on the East Coast and Inland River System of the United States. Founded in 2016, Enstructure’s mission is to acquire and grow established terminal and logistics companies that will benefit from the company’s resources and best practices, while maintaining an entrepreneurial spirit and local identity. Enstructure provides extensive services for some of the world’s largest companies within the energy, agriculture, food, manufacturing, construction and public safety sectors.