AIG Highstar Capital, the owner of and investor in Ports America, Inc., MTC Holdings and Amports, Inc. announced that it has formed a single management structure to operate the total enterprise.
The Ports America Group will combine the management of Ports America, Inc. and MTC Holdings into a single management team for the enterprise. Amports, Inc. will operate as a division of the Group and will retain its existing management structure.
To be branded Ports America, the Group will be headquartered in Iselin, New Jersey and will be led by Doug Tilden as Chief Executive Officer. The Group President will be Stephen Edwards and the Chief Financial Officer will be Aaron Gold.
Ports America Group is the largest American port and terminal operating company and is one of the largest in the world.
Ports America Group encompasses operations in 49 ports with 95 terminals in the United States, Mexico and Chile. Handling over 12 million teu, two million vehicles, three million tons of general cargo and 1 million cruise ship passengers, with a total annual revenue of $1.6 billion.
The Group has proven success in terminal acquisition and development and is a world leader in the deployment of technology operating some of the most advanced terminals in the United States.
Highstar is a group of investment professionals specializing in value added equity investments in infrastructure assets and businesses. Since 2000, Highstar has led or co-led infrastructure investments totaling in excess of US $10 billion in enterprise value, including investments in power generation, water and waste water, natural gas transmission and storage, waste management, waste-to-energy, transportation logistics, and port concessions and operations. Currently, Highstar is managing a portfolio of assets valued in excess of US $3 billion.