Macquarie Infrastructure Partners III Completes Sale of Ceres Terminals to Carrix

Carrix, parent company of SSA Marine, expanded its North American port infrastructure through the acquisition of Ceres Terminals, announced on 2023-10-12. This divestment allows Macquarie Infrastructure Partners III (MIP III), a $3.0 billion fund closed in 2014, to realize value from its investment in Ceres Terminals. Ceres Terminals operates across North America, providing services for container, breakbulk, automotive, project cargo, and cruise operations. Carrix, a global transportation company, significantly expands its existing marine terminal operations with Ceres Terminals' facilities across the United States. The transaction consolidates a leading marine terminal operator under Carrix's global transportation umbrella. While the deal value remains undisclosed, the sale represents a strategic exit for MIP III from a mature asset within its transportation sector focus. For Macquarie Infrastructure Partners III (MIP III), the divestment of Ceres Terminals aligns with its fund lifecycle, as the $3.0 billion North American-focused fund closed in 2014. Macquarie Asset Management (MAM), one of the world's largest infrastructure managers, oversees MIP III's investments across transportation, utilities, communications, and energy sectors. Carrix, already a global transportation company and parent to SSA Marine, significantly enhances its operational footprint in North America with Ceres Terminals' diverse cargo services. This acquisition further solidifies Carrix's position as a leading marine terminal operator, integrating Ceres Terminals' container, breakbulk, automotive, project cargo, and cruise operations. The acquisition demonstrates Carrix's strategy to expand its terminal services for container, breakbulk, automotive, project cargo, and cruise operations across the United States.