Transportation Infrastructure Partners, a joint venture between Ridgewood Infrastructure and Savage, has acquired a multi-modal marine dry goods bulk port facility in Wilmington, N.C.
The facility, known as Carolina Marine Terminal (CMT), provides transport, logistics management and product handling services to a diverse customer base. CMT marks the first acquisition by Transportation Infrastructure Partners, which was established last quarter to jointly acquire and operate essential transportation and logistics infrastructure throughout the United States.
Ryan Stewart, managing director of Ridgewood Infrastructure, noted CMT’s deep-water port, storage facilities, access to major rail and highway routes, and highly efficient operations will provide the company with a sustainable competitive advantage.
Savage will serve as the operator of investments made by the joint venture, including CMT.
