Macquarie Infrastructure Partners buying Fraser Surrey Docks

Macquarie Infrastructure Partners buying Fraser Surrey Docks New York-based Macquarie Infrastructure Partners, part of Australia’s Macquarie Bank, has entered into a sale and purchase agreement with privately held APTL Terminals Ltd. to acquire 100 percent of Fraser Surrey Docks, a container and break-bulk terminal on the main arm of the Fraser River in Vancouver, Canada. Financial details were not disclosed.
   The 132-acre terminal has a container capacity of 412,500 TEUs and 1.1 million tons of break-bulk. Fraser Surrey Docks currently has seven berths, four gantry cranes and total wharf frontage of 1,575 meters (5,167 feet).
   Other North American infrastructure-related assets owned by MIP include Halterm, a 72-acre container terminal and cargo handling facility in Halifax, Nova Scotia, bought at the end of last year, and interests in four toll roads in the United States, including South Bay Expressway (50 percent), Dulles Greenway (50 percent), Chicago Skyway (22.5 percent) and Indiana Toll Road (25 percent).
   “Fraser Surrey Docks is an established business with seasoned management and excellent growth potential,” said Christopher Leslie, MIP’s chief executive officer. “This acquisition, which follows our recent acquisition of the Halterm container terminal in Halifax, adds further depth to Macquarie’s commitment to the port terminal sector. We are committed to partnering with management and the Fraser River Port Authority to position Fraser Surrey Docks to capitalize on expanding international trade and other long-term growth opportunities.”
   MIP said that it will retain the management of Fraser Surrey Docks, including its CEO, Gino Crisanti.
   The transaction is expected to close by March 31, subject to regulatory and other third party consents.