FTAI Infrastructure Acquires Appalachian, Gulf Coast Transloading Operator

FTAI Infrastructure has completed its $45 million acquisition of Tidewater Logistics, expanding its barge and rail transloading network across the Appalachian Basin and Gulf Coast while strengthening its existing rail operations.

(P&GJ) — FTAI Infrastructure has completed its acquisition of AP Shale Logistics ManagementCo LLC, which operates as Tidewater Logistics, for approximately $45 million, expanding the company's barge and rail transloading network across the Appalachian Basin and Gulf Coast.

The acquisition was funded through an expansion of FTAI Infrastructure's existing term loan with its current lenders.

Tidewater Logistics operates barge and rail transloading facilities in Ohio, West Virginia and Texas. FTAI said the business complements its existing Wheeling & Lake Erie Railway operations by serving producers, shippers and industrial customers in key shale-producing regions.

The company expects Tidewater to generate approximately $9 million in adjusted EBITDA during the next 12 months, with additional growth potential through increased throughput, expanded customer relationships and integration with FTAI's broader rail platform.

“Tidewater Logistics is a natural fit for FIP’s growing infrastructure platform,” CEO Ken Nicholson said. “Tidewater’s barge and rail transloading capabilities are highly complementary to our existing railroad assets, and we see meaningful opportunities to expand Tidewater’s customer base and throughput volumes across its network of strategically located facilities.”

Nicholson said the acquisition aligns with the company's strategy of acquiring infrastructure businesses with stable cash flow, defensible market positions and long-term growth opportunities.

“We continue to pursue high-quality infrastructure businesses with defensible market positions, stable cash flows and compelling growth prospects, and Tidewater checks each of those boxes,” he said.

Calfee, Halter & Griswold LLP served as legal counsel to FTAI Infrastructure on the transaction.