Metalmark Capital has made an investment in T. Parker Host, a provider of maritime services.
T. Parker Host is a maritime provider of agency services, terminal operations, Jones Act vessel operations and logistics services to customers throughout the United States. The company has more than 30 locations along the US East and Gulf Coasts. In the past five years, the company grew from 150 to over 500 employees and made the Inc. 5000 list of fastest growing companies in America.
Host is the largest bulk agent in the United States and the largest non-union stevedore in South Florida (stevedores are contractors that are engaged at a dock to load and unload cargo from ships). The company was founded in 1923 by T. Parker Host, Sr. and is today led by CEO Adam Anderson with a headquarters in Norfolk, VA (www.tparkerhost.com).
With the closing of the Metalmark transaction, Mr. Anderson remains the majority shareholder of Host, with Andrew Caplan and Kelsey Host, the fourth generation of the Host family, remaining as partners.
The new investment by Metalmark coincides with Host’s acquisition of the 254-acre Avondale Shipyard in New Orleans from Huntington Ingalls Industries via a partnership with Hilco Real Estate. The Avondale Shipyard is a historic property, located along the Mississippi River in New Orleans, with a footprint of 254 acres, five docks, one mile of waterfront and significant warehousing and storage capabilities. Host plans future connectivity for the shipyard to six class one railroads.
“We are proud of the accomplishments we have achieved as a family and founder-owned business over the past 95 years and look forward to pursuing the promising growth initiatives we have put in place in partnership with Metalmark,” said Mr. Anderson. “This investment and the Avondale acquisition are perfect examples of our core principles in action: Delivering the highest quality total solutions service for customers’ terminal, stevedoring, marine asset and agency needs, while leveraging our unrivaled human capital, impeccable safety standards and highest levels of integrity.”
“We are pleased to be partnering with Adam Anderson and Host’s proven leadership team. We look forward to the exciting developments that Avondale and other business opportunities bring to the company,” said Howard Hoffen, Chairman and Chief Executive Officer of Metalmark Capital. “We believe Avondale is a compelling strategic fit with Host’s strategy to be a leading provider of terminal and logistics assets for customers who are managing their global supply chain, particularly in bulk and breakbulk commodities.”
Metalmark Capital was established by the principals of Morgan Stanley Capital Partners (MSCP) to manage the Metalmark Capital and MSCP funds. Sectors of interest include infrastructure & industrials, agribusiness and healthcare. Metalmark Capital manages funds with $3.7 billion in aggregate capital commitments. The firm is based in New York (www.metalmarkcapital.com).
© 2018 Private Equity Professional | December 10, 2018
