FTAI Infrastructure Inc. completed the acquisition of AP Shale Logistics ManagementCo LLC, doing business as Tidewater Logistics, for a cash consideration of approximately $45 million. The transaction, funded through an upsizing of FIP’s existing term loan with existing lenders, expands the company's footprint in the barge and rail transloading sector. FIP expects the acquisition to generate $9 million of Adjusted EBITDA in the next twelve months, driven by expanded customer relationships and increased throughput volumes.

Tidewater Logistics operates as a transloading platform with facilities in Ohio, West Virginia, and Texas. The business is highly complementary to FIP’s Wheeling & Lake Erie Railway, serving producers, shippers, and industrial customers across the Appalachian Basin and Gulf Coast region. The integration with FIP’s broader rail platform is anticipated to create additional upside through operational synergies.

Ken Nicholson, CEO of FIP, highlighted the strategic fit of the acquisition. "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," said Nicholson. He emphasized that Tidewater meets the company's criteria for high-quality infrastructure businesses with defensible market positions and stable cash flows.

The following table outlines the key financial details of the transaction:

Calfee, Halter & Griswold LLP served as legal counsel to FTAI Infrastructure in connection with the acquisition. The company continues to pursue infrastructure businesses that offer potential for earnings growth and asset appreciation.