Enstructure to Acquire Patriot Ports

Enstructure LLC of Wellesley, Massachusetts, announced it has entered into a definitive agreement to acquire Patriot Port Holdings LLC (Patriot Ports), the ports division of Patriot Rail & Ports. Patriot Ports’ operations include breakbulk, specialty cargo and cold storage in six terminals in Mobile; Jacksonville, Florida; Savannah, Georgia; and Sunny Point, North Carolina, with approximately 1.2 million ft2 of industrial warehouse capacity, including 10.2 million ft3 of cold storage. The 150-plus Patriot Ports employees, including all operating personnel and management, are to remain in place following the acquisition. Now, Enstructure will operate 12 terminals along the East Coast and Inland River System with more than 600 employees and approximately 3.2 million ft2 of industrial warehouse capacity, including 19.2 million ft3 of cold storage. Matthew Satnick and Philippe De Montigny, Co-CEOs of Enstructure, commented, “The combination will significantly enhance our leading East Coast and Inland River System terminal network serving bulk, breakbulk and cold storage customers.… This transaction will allow Patriot to focus on growth in our core rail business moving forward.” Closing is expected in early July, and as part of the transaction, Patriot Ports subsidiaries Portus Holdings LLC and Seaonus Holdings LLC, along with their subsidiaries, will be acquired by Enstructure.