One of the key partners in the Fairview container port project has a new owner today. Maher Terminals based out of New Jersey has reached an agreement with RREEF Infrastructure, the global alternatives asset management business of Deutsche Bank’s Asset Management division.
A major player in financial matters world wide, Deutsche Bank’s division is touting the purchase as an opportunity to be involved in “two of the most prized and most promising terminals in North America.”
The company will retain the Maher name and the acquisition will not affect the leadership of Maher Terminals, with the current board of directors and managers intending to stay on board with the new ownership group.
The financial move certainly moves the Prince Rupert container project into a new realm of visibility, with the financial muscle of Deutsche Bank, the prospect for expansion and a larger presence in the global shipping world probably has increased.
It will be worth watching to see how the new ownership examines the future plans for the Terminal and where they might wish to steer the course of the ports development.
RREEF Infrastructure Agrees to Purchase Maher Terminals
Acquisition will Enable Maher to Compete on a Global Level
A major player in financial matters world wide, Deutsche Bank’s division is touting the purchase as an opportunity to be involved in “two of the most prized and most promising terminals in North America.”
The company will retain the Maher name and the acquisition will not affect the leadership of Maher Terminals, with the current board of directors and managers intending to stay on board with the new ownership group.
The financial move certainly moves the Prince Rupert container project into a new realm of visibility, with the financial muscle of Deutsche Bank, the prospect for expansion and a larger presence in the global shipping world probably has increased.
It will be worth watching to see how the new ownership examines the future plans for the Terminal and where they might wish to steer the course of the ports development.
RREEF Infrastructure Agrees to Purchase Maher Terminals
Acquisition will Enable Maher to Compete on a Global Level
March 20, 2007 09:49 AM Eastern Daylight Time
NEW YORK--(BUSINESS WIRE)--RREEF Infrastructure, a part of RREEF Alternative Investments, the global alternatives asset management business of Deutsche Bank’s Asset Management division, has agreed to purchase Maher Terminals, a privately-held operator of Port terminal facilities in Port Elizabeth and Port of Prince Rupert. The acquisition will be made through Deutsche Bank Americas Holding Corp., a RREEF affiliate.
“We believe Maher Terminals represents the best assets combined with the very best management team in the industry,” said David Kerr, Managing Director and Portfolio Manager with RREEF. “We are excited to have this opportunity to operate in both Port Elizabeth and the Port of Prince Rupert, two of the most prized and most promising terminals in North America.”
“As the environment changes in the port industry, RREEF provides Maher increased ability to compete on a global level,” said M. Brian Maher, Chairman and CEO of Maher Terminals. “Their vision of growth and value creation will lead us in the future as we grow our existing terminal businesses and compete for additional capacity in the North American market.”
The company will retain the Maher name and the acquisition will not affect the leadership of Maher Terminals. M. Brian Maher will continue to serve as Chairman and CEO, and Basil Maher will remain as President. Maher Terminals will keep its headquarters in Berkeley Heights, New Jersey.
Deutsche Bank acted as financial advisor to RREEF for the acquisition. Greenhill & Co., LLC acted as financial advisor to Maher Terminals.
About RREEF
RREEF Infrastructure is part of RREEF Alternative Investments, the global alternative investment management business of Deutsche Bank’s Asset Management division, and invests predominately in economic infrastructure assets such as transportation, and utility generation and distribution. RREEF Alternative Investments consists of four businesses: Real Estate, Infrastructure, Private Equity and Hedge Funds. Headquartered in New York, RREEF Alternative Investments employs more than 1,400 investment professionals in 16 cities around the world to help investors meet a wide range of objectives – from diversification, to preservation of capital, to long-term performance. Named the world’s largest alternative investments manager in Watson Wyatt’s Alternative Survey, September 2006, RREEF has $73 billion in assets under management worldwide as of 31 December 2006.
About Maher Terminals
Maher Terminals operates the world's largest independent multi-user container terminal in the United States, which is strategically located in Port Elizabeth, New Jersey, a preferred commercial location within the Port of NY/NJ. Maher has received approval for and is constructing a terminal in Prince Rupert, Canada, which should be completed in the fall of 2007. Maher’s operation serves as a vital link in the cargo movement chain, enabling companies to compete in the world marketplace by handling their cargo as expeditiously and economically as possible.
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