The private equity firm Lincolnshire Management is reportedly repurchasing the automotive terminal and processing company AMPORTS from Highstar Capital, six years after selling it to Highstar.
Industry sources confirmed the sale to American Shipper
, but neither AMPORTS, nor Lincolnshire, nor Highstar executives could be reached immediately for comment.
AMPORTS has operations in Jacksonville, Fla.; Baltimore; Brunswick, Ga.; Tampa, Fla.; Port Hueneme and Benica, Calif.; and Altimira, Salamanca, Lazaro Cardenas and Toluca, Mexico.
Lincolnshire purchased AMPORTS from
Associated British Ports in 2006, then sold it to Highstar in 2008.
Reportedly, Jim Davis will return to AMPORTS as chief executive officer.
The purchase comes as trade in automobiles is on an upswing.
William Kerrigan, the owner of KGI Global Logistics Consulting, said vehicle imports and exports are growing and that capacity at terminals that handle them are constrained. At the same time, because of limited rail capacity between Mexico and the U.S. as well as driver shortages, more automobiles are expected to move by water to U.S. ports.