Canada Pension Plan Investment Board (CPP Investments) has entered into a definitive agreement to become the 100 percent owner of Ports America, North America’s largest marine terminal operator, through the acquisition of an interest from funds managed by Oaktree Capital Management.
CPP Investments has been an existing minority investor in Ports America since 2014 and will continue to support the business with long-term capital and continuity of ownership, as the company deepens its focus on providing safe, secure and efficient service for all of its shipping line and beneficial cargo–owner customers.
Since its founding in 1921, Ports America has driven a century’s worth of innovation in stevedoring, cargo handling and best-in-class terminal operations. Today, Ports America is the largest terminal operator in North America, with diversified operations across the country, including 70 locations in 33 ports on each of the United States’ three coasts. The company