The Ports America Group will combine the management of Ports America, Inc. and MTC Holdings into a single management team for the enterprise. Amports, Inc. will operate as a division of the Group and will retain its existing management structure.
To be branded Ports America, the Group will be headquartered in Iselin, New Jersey and will be led by Doug Tilden as chief executive officer. The group president will be Stephen Edwards and the chief financial officer will be Aaron Gold.
Ports America Group is the largest ports and terminal operating company in the USA and one of the largest in the world. It encompasses operations in 49 ports with 95 terminals in the United States, Mexico and Chile. Each year it handles over 12m teu, 2m vehicles, 3m tons of general cargo and 1m cruise ship passengers, with a total annual revenue of US$1.6bn.
The Group has proven success in terminal acquisition and development and is a world leader in the deployment of technology, operating some of the most advanced terminals in the USA.
Highstar is an investment group specialising in value-added equity investments in infrastructure assets and businesses. Since 2000, it has led or co-led infrastructure investments totalling in excess of US$10bn in enterprise value, including projects in power generation, water and wastewater, natural gas transmission and storage, waste management, waste-to-energy, transportation logistics, and port concessions and operations. Currently, Highstar manages a portfolio of assets valued in excess of US$3bn.