Simpson Thacher represented Carrix, a leading marine terminal operator in the U.S. and the Americas, in the debt financing for Carrix’s purchase of Ceres Terminals (“Ceres”) from Macquarie Infrastructure Partners III.
Established over 60 years ago, Ceres operates in 18 locations throughout North America, including California, Houston, Montreal, Vancouver, B.C. and throughout the U.S. Atlantic and Gulf coast regions. Ceres has expanded its stevedoring operations to include a portfolio of terminal concessions that provide on-dock logistics services for shipping containers, roll-on roll-off cargo, breakbulk cargo and cruise passengers.
Carrix is the parent company of SSA Marine and its affiliates with combined operations at over 250 terminal facilities and rail locations worldwide, including 18 container terminals in Long Beach, Oakland, Seattle, Tacoma, Jacksonville, Panama, Mexico, Chile, Colombia and Vietnam. SSA Marine also operates cruise, auto and other conventional terminals throughout the United States and Canada.
The Simpson Thacher team included Brian Gluck, Zachary Banks and John Charles (Credit); Michael Mann and Scott Grundei (Tax); Garrick Ehlers (ERISA); and Michael Isby (Environmental).