Having acquired the 254 acre (102 ha) Avondale Shipyard in New Orleans, USA in October, maritime services provider T. Parker Host has received strategic investment from private equity firm Metalmark Capital.
Host acquired a controlling interest in the Avondale Shipyard – a historic property located along the Mississippi River, with significant warehousing and storage capabilities – from Huntington Ingalls Industries via a partnership with Hilco Real Estate.
With five docks and over a mile of waterfront, Host plans to connect the site to six Class 1 railroads via the New Orleans Public Belt Railroad, through an agreement signed with the port of New Orleans in October.
Following the investment from Metalmark, Adam Anderson, ceo of Host, will remain the majority shareholder, while Andrew Capland and Kelsey Host will continue to be partners in the company.
Financial terms of the transaction were not disclosed.