Macquarie Infrastructure Partners III (MIP III), an unlisted infrastructure fund managed by Macquarie Asset Management, has completed its previously announced sale of Ceres Terminals ("Ceres" or "the Company") to Carrix, a leading marine terminal operator. Dames Point Jacksonville, Ceres' former Jacksonville container terminal, as well as the Intermodal Container Transfer Facility in Jacksonville previously managed by Ceres, have been retained by MIP III.
In the eight years following MIP III's initial investment in Ceres, the Company has expanded from providing traditional stevedoring operations to owning and operating a portfolio of premier terminal concessions and long-dated operating agreements. Macquarie Asset Management remains a significant port terminal manager across the Americas, with current investments in Maher Terminals, Long Beach Container Terminal, Yusen Terminals and International Transportation Service in the United States, as well as Corredor Logística e Infraestrutura in Brazil. Macquarie Asset Management takes an active approach to managing marine terminal infrastructure, including investing to increase the capacity and improve the operating performance of terminals, as well as implementing health and safety initiatives.
"We are incredibly proud to have partnered with the Ceres management team to build a leading port terminal logistics and concession company," said Karl Kuchel, CEO of Macquarie Infrastructure Partners. "Ceres is another example of how we successfully pursue improvements to the quality, safety and efficiency of operations within our critical infrastructure investments to meet the needs of key stakeholders."
Other than Macquarie Bank Limited ABN 46 008 583 542 ("Macquarie Bank"), any Macquarie Group entity noted in this document is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.
