FTAI Infrastructure acquires Tidewater Logistics for $45 million
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- FTAI Infrastructure (NASDAQ:FIP) completed the acquisition of Tidewater Logistics, a barge and rail transloading company, for approximately $45 million in cash.
- The transaction was funded by upsizing FIP’s existing term loan.
- Tidewater is expected to generate about $9 million of Adjusted EBITDA in the next twelve months.
FTAI Infrastructure (NASDAQ:FIP) announced the completion of its acquisition of Tidewater Logistics, a barge and rail transloading company operating in Ohio, West Virginia, and Texas.
The deal was funded by upsizing FIP’s existing term loan with current lenders.
Tidewater’s established transloading platform is highly complementary to FIP’s Wheeling & Lake Erie Railway, serving shale and energy markets in the Appalachian Basin and Gulf Coast.
FTAI Infrastructure expects Tidewater to generate approximately $9 million of Adjusted EBITDA in the next twelve months, with potential upside from customer growth, higher throughput, and integration with its broader rail platform.
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