New shareholder boosts Carrix capital for growth

In addition, Mexican businessman Fernando Chico Pardo, through a holding company, injected an undisclosed sum into the company in return for 49% ownership, substantially increasing the capital base of FRS Capital.   The Smith/Hemingway family retains a controlling 51% ownership.

The deal will allow Carrix to grow, retool for larger vessels and lead the industry consolidation now underway.  The company is the parent of SSA Marine, the world’s largest independent, privately-held marine terminal operator and a major stevedore, with activities at more than 210 terminal facilities and rail operations in North and Latin America, the Far East, New Zealand and South Africa.

Recently, SSA Marine completed major expansion at its Oakland International Container Terminal, in readiness to handle the largest vessels.  It will also soon complete doubling capacity at its MIT terminal in Panama, in time for completion of the canal expansion.   Carrix is also the parent company of Tideworks Technology, the developer of information technology systems for marine and rail terminal management.