FTAI Infrastructure Acquires Tidewater Logistics for $45 Million

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Summary · why it matters

FTAI Infrastructure has completed the acquisition of AP Shale Logistics ManagementCo, doing business as Tidewater Logistics, a barge and rail transloading company with operations in Ohio, West Virginia, and Texas, for approximately $45 million in cash. The purchase was funded through an upsizing of FIP's existing term loan with existing lenders. Tidewater is expected to generate $9 million of Adjusted EBITDA in the next twelve months, with additional upside from expanded customer relationships, increased throughput volumes, and integration with FIP's Wheeling & Lake Erie Railway. CEO Ken Nicholson described Tidewater as a natural fit for FIP's growing infrastructure platform, highlighting its complementary transloading capabilities and strategically located facilities.

Impact on assets 2

Energy Transition & Power Demand▲ · 1 stocks
FTAI Infrastructure Inc.
FIP
▲ PositiveCapitalrelevance

FTAI Infrastructure acquires Tidewater Logistics for $45M, funded via term loan upsizing, expected to add $9M Adjusted EBITDA.

Energy▲ · 1 stocks

Off-coverage companies 2

AP Shale Logistics ManagementCo LLC (Tidewater Logistics)Private▲ Positive
Capitalrelevance

Tidewater Logistics is acquired by FTAI Infrastructure; the transaction is the subject of the article.

Wheeling & Lake Erie RailwayPrivate▲ Positive
Demandrelevance

Wheeling & Lake Erie Railway is expected to benefit from integration with Tidewater's transloading capabilities and increased throughput.

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