InstarAGF Asset Management has bought North American automotive port logistics processor Amports from Lincolnshire Management for an undisclosed sum.
Amports, based in Jacksonville, Florida, directly owns around half of its land portfolio and provides carmakers with portside vehicle processing services that include rail loading and unloading, inspection, storage, repairs and accessorisation. In February, it was announced that Amports would be managing Volkswagen of America's latest vehicle distribution centre at the port of Benicia in California.
Steve Taylor, president and chief operating officer at Amports, said his company looked forward to further expanding its business alongside InstarAGF and building on its commitment to safety, quality, operational excellence and customer satisfaction.
InstarAGF said it focused on mid-sized infrastructure assets in North America in the energy, utilities, civil and social infrastructure sectors.
“Amports is an award-winning leader in portside automotive processing, which is an essential component of the North American auto supply chain and represents a critical service for global OEMs,” commented Gregory Smith, president and CEO of InstarAGF. “Amports has provided high quality, customised services to OEMs for more than 50 years, establishing long-term customer relationships and a distinctive value proposition that underpins the company’s stable cash flow profile and growth prospects.”
