Jones Capital has announced the acquisition of Rockport Terminals, a private intermodal terminal on the Texas Gulf Coast.
The acquisition is the third in two years for Jones Capital, a growing provider of private capital to lower middle market businesses in the transportation and logistics, technology, industrial, and business services markets.
Rockport Terminals is located within 28 miles of the fast-growing Port of Corpus Christi, but outside the port’s tariff zone.
With more than 250 acres of industrial land, Rockport Terminals boasts access to the Intracoastal Waterway, nearby railways, and many major highways. The terminal specialises in bulk liquids storage, bulk and breakbulk, and bulk liquids product handling.
Concurrent with the acquisition of Rockport Terminals, Jones has also announced that Ross Stevenson has been named Rockport Terminals president and CEO.
Stevenson has nearly 15 years of experience in executive management, business development, and project management, most recently with Phillips 66. Stevenson will continue to work closely with the existing Rockport Terminals management team, all of whom are remaining with the business.
“I could not be more excited to launch this new partnership with Jones to further develop and commercialise Rockport Terminals,” said Stevenson. “Rockport is a unique asset along the high growth Texas Gulf Coast, and we are excited to have the support of a capital partner that has the vision, timeline, and resources to make this venture a success.”
Stevenson added: “With Jones’ support, we have kicked off a multiple-year capital improvement plan that we are very excited about, including two new liquids and breakbulk docks, additional lay down yard and logistical improvements, and we have approval from UP, our rail partner, for a loop track design that will be able to accommodate unit trains.”
For more information visit rockportterminals.com