Pennsylvania-based Precision Terminal Logistics has added rail-served warehouse and yard capacity in New Orleans, La., and Savanna, Ga., to its transload terminal network spanning 15 states, company owners Anacostia Rail Holdings and Brown Brothers Harriman Capital Partners Opportunities Fund, L.P. reported on Jan. 11.
Effective Dec. 31, 2021, Precision Terminal Logistics acquired The Kearney Companies, Inc. (New Orleans) as well as Kearney Page Warehouse Services (Savannah), which will be rebranded as The Kearney Companies—Savannah. David Kearney will continue as President of both companies and as an equity owner.
The Kearney Companies, Inc. operates more than 500,000 square feet of rail-served warehouse capacity and 60 acres of yard capacity in the Port of New Orleans gateway. These facilities are served by the New Orleans Public Belt Railroad, which connects directly with BNSF, CN, CSX, Kansas City Southern, Norfolk Southern and Union Pacific.
Services include commodity warehousing and barge and rail transloading, coupled with full-service ocean container drayage operations and inland freight management services. The Kearney Companies, Inc. handles agriculture and manufactured products, including corn meal, rice, paper, chemicals, lumber, steel and non-ferrous metals products.
The Kearney Companies—Savannah operates a 400,000-square-foot warehouse in Garden City, Ga., near the Georgia Port Authority—Savannah Container Terminal, served by CSX. It manages high-volume cross-dock programs for numerous commodity suppliers especially in the pulp and paper sector, according to Anacostia Rail Holdings and Brown Brothers Harriman Capital Partners Opportunities Fund, L.P..
“The acquisition expands two critical gateways at a crucial time when customer supply chains at ports are backlogged and need enhanced capacity,” Precision Terminal Logistics President Ray Nixon said. “Combining Kearney’s expertise in warehousing with PTL’s [Precision Terminal Logistics’s] experience in material handling expands the service products that PTL can provide to shippers.”
The initial investment in both companies, in addition to Precision Terminal Logistics’s “access to capital, ensures that we are poised for immediate expansion in our existing markets driven by our customers’ need for more capacity,” David Kearney said. “Further, with the support of PTL, we can target new, strategic markets where our customers have supply chain needs. We could not be more excited about the doors this will open for us.”
Anacostia Rail Holdings and Brown Brothers Harriman Capital Partners Opportunities Fund, L.P.—a subsidiary of Brown Brothers Harriman Capital Partners—established Precision Terminal Logistics in September 2019.