Enstructure, a US terminal and logistics company, has entered into a definitive agreement to acquire Patriot Port Holdings, the ports division of Patriot Rail & Ports.
Patriot Ports operates six terminals in Jacksonville, Savannah, Mobile and Sunny Point, with approximately 1.2m square feet of industrial warehouse capacity, including 10.2m cubic feet of cold storage. The company also operates 13 regional and freight short line railroads with over 600 rail miles across the country. It provides rail-related services, including railcar repair and maintenance, contract switching, transloading and railcar storage.
As part of the transaction, Enstructure will also acquire Patriot Ports’ subsidiaries, Portus Holdings LLC and Seaonus Holdings LLC along with their subsidiaries.
Following the acquisition, Enstructure will operate 12 terminals along the East Coast and inland river system with more than 600 employees and approximately 3.2m square feet of industrial warehouse capacity, including 19.2m cubic feet of cold storage.
“Over 150 Patriot Ports employees, including all operating personnel and management, will remain in place following the acquisition,” said John Fenton, CEO of Patriot Ports. “This transaction will allow Patriot to focus on growth in our core rail business moving forward.”
The deal is expected to close in early July.