US buyout house Lincolnshire Management has scored a 2x return through its exit of port terminal operator AMPORTS, AltAssets can reveal.
The firm sold it to a consortium of investors led by Canada’s InstarAGF Asset Management, marking the end of a near four-year holding.
AMPORTS is a business that provides customers with logistical and portside services including rail loading, inspection, storage and installations. Throughout its 60-year history, it has developed strong relationships with a number of global car makers, including Jaguar, Volkswagen and Honda.
Lincolnshire acquired the company through its $835m fund IV in 2014, and worked closely with the management team to increase the size of its operations and diversify its customer mix.
Since then it has expanded in North America, more than doubled its earnings and grown processing volumes by 20 per cent.
Lincolnshire managing director Philip Kim said, “Together with Jim Davis, Steve Taylor and the outstanding management team, Lincolnshire helped AMPORTS grow processing volumes by 20 percent, increase controlled acreage by nearly 40 percent and more than double earnings.
“We enhanced the company’s presence in an important segment of North American infrastructure and built a formidable force in the industry going forward.”
The transaction closely follows the news of Lincolnshire’s exit of wrapping machines business Fabbri Group to fellow private equity house Argos Soditic.