Marine terminal operator Carrix announced it has agreed to purchase Ceres Terminals from Macquarie Infrastructure Partners III, a fund managed by Macquarie Asset Management. Financial terms of the transaction were not disclosed.
Ceres was established over 60 years ago and now operates in 18 locations throughout North America, including California, Houston, Montreal, Vancouver, B.C. and throughout the U.S. Atlantic and Gulf coast regions. Over the last eight years, Ceres has expanded its stevedoring operations to include a portfolio of terminal concessions that provide on-dock logistics services for shipping containers, roll-on roll-off cargo, breakbulk cargo, and cruise passengers.
“We are excited to expand SSA Marine’s footprint further into the rapidly growing Atlantic and Gulf Coast regions of the United States,” said Uffe Ostergaard, President & CEO of Carrix. “Ceres has built an attractive portfolio of container, cruise, and general cargo operations and customer relationships which will enable us to serve our combined customers in more locations with more services.”
“I am incredibly proud of our employees and the culture we have all built of putting safety and our customers at the center of everything we do,” said Craig Mygatt, Chief Executive Officer, Ceres Terminals. “We all look forward to the next chapter of growth with Carrix, a well-renowned terminal operator in North America, and we are confident that the combination will continue to serve our customers, employees and other stakeholders well.”
Carrix is the parent company of SSA Marine and its affiliates with combined operations at over 250 port and rail locations worldwide, including 18 container terminals in Long Beach, Oakland, Seattle, Tacoma, Jacksonville, Panama, Mexico, Chile, Colombia and Vietnam. SSA Marine also operates cruise, auto and other conventional terminals throughout the United States and Canada.
“Ceres Terminals has developed a leading position serving the world’s largest cruise line customers throughout the U.S. and in Canada, and we look forward to expanding this segment with our combined cruise operations expertise,” continued Ostergaard.
The parties will collaborate to reach closing, which remains subject to the approval of relevant regulatory authorities.
Ceres Terminals Jacksonville “CTJ” will not be part of this transaction and will remain owned by Macquarie.