InstarAGF Asset Management Inc., today announced that it has acquired a 100% equity interest in Amports, the automotive port logistics and processing company based in Jacksonville, Florida, from Lincolnshire Management, Inc., alongside its Canadian and international infrastructure co-investors.
Amports is a vital link in the global transportation supply chain of many of the world’s largest automotive OEMs, operating from strategically-located facilities in the United States and Mexico on major coastal zones that provide superior access to land transport links and distribution networks in close proximity to major population centres.
Amports, which directly owns approximately 50% of its land portfolio, provides customers with seamless logistical and portside services in vehicle processing, including rail loading and unloading, inspection, storage, accessory installations, and customisations, repairs and regulatory homologation services.
InstarAGF, which focuses on mid-sized infrastructure assets in North America in the energy, utilities, civil and social infrastructure sectors, manages a diversified portfolio of high quality businesses that includes an interest in the passenger terminal at Billy Bishop Toronto City Airport, a vital transportation hub for the city of Toronto and surrounding region, and Skyservice, Canada’s leading provider of essential business aviation services.
“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,” said Gregory J. Smith, President and Chief Executive Officer 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.”
“We are delighted to welcome InstarAGF and its co-investors to the Amports family,” said Steve Taylor, President and Chief Operating Officer at Amports. “Working alongside the experienced InstarAGF team, we look forward to further expanding and enhancing our market-leading infrastructure and competitive position, and to building on our commitment to safety, quality, operational excellence and customer satisfaction.”