T. Parker Host Receives Strategic Investment from Metalmark Capital
(Posted on 03/12/18)
Metalmark Capital Invests in Host to Fund Acquisition of Avondale and Provide Incremental Capital for Execution of Host’s Growth Strategy
T. Parker Host is pleased to announce a strategic investment from Metalmark Capital. Metalmark is a leading private equity firm with a long track record of successfully investing in family and founder-owned businesses in targeted sectors, with particular expertise in infrastructure and commodity-related industries. Financial terms of the transaction were not disclosed.
The strategic investment coincides with Host’s acquisition of the 254-acre Avondale Shipyard in New Orleans, LA. The investment and acquisition are the latest moves for the growing 95-year-old company. “We welcome Metalmark as a partner in our business and look forward to capitalizing on their financial resources, professional network and industry expertise,” said Adam Anderson, Chief Executive Officer of Host.
Norfolk, VA based T. Parker Host is a leading maritime provider of agency services, terminal operations, Jones Act vessel operations and logistics services to customers throughout the United States. Over the past several years, Host has expanded and attracted attention in the shipping world by challenging historic business models and developing comprehensive solutions that traditionally involved multiple companies.
Adam Anderson remains the majority shareholder, while Andrew Caplan and Kelsey Host, the fourth generation of the Host family, will remain as partners.
“We are proud of the accomplishments we have achieved as a family and founder-owned business over the past 95 years and look forward to pursuing the promising growth initiatives we have put in place in partnership with Metalmark,” added Anderson. “This investment and acquisition are perfect examples of our core principles in action: Delivering the highest quality total solutions service for customers’ terminal, stevedoring, marine asset and agency needs, while leveraging our unrivaled human capital, impeccable safety standards and highest levels of integrity.”
Host acquired a controlling interest in the Avondale Shipyard from Huntington Ingalls Industries, Inc. via a partnership with Hilco Real Estate. The Avondale Shipyard is a historic property, located along the Mississippi River in New Orleans, LA, with a footprint of 254 acres and significant warehousing and storage capabilities. With five docks and over one mile of waterfront, the Avondale Shipyard will become integral to Host’s continued efforts to provide REAL solutions to customers and shift the transportation paradigm. Host plans future connectivity for the shipyard to six Class 1 Railroads via the New Orleans Public Belt, through a binding Cooperative Endeavor Agreement entered into with the Port of New Orleans last month.
“We are pleased to be partnering with Adam and Host’s proven leadership team. We look forward to the exciting developments that Avondale and other business opportunities bring to the Company,” said Howard Hoffen, Chairman and Chief Executive Officer of Metalmark Capital. “We believe Avondale is a compelling strategic fit with Host’s strategy to be a leading provider of terminal and logistics assets for customers who are managing their global supply chain, particularly in bulk and breakbulk commodities.”
Founded in 1923 and guided by the Core Principles established by T. Parker Host, Sr., the company has developed a strong reputation in the maritime community for its expertise, transparency and high standards of service.
Latest News
Torvald Klaveness consolidates groupwide digital solutions
(Posted on 31/03/25)Torvald Klaveness has announced the decision to consolidate all digital services under Klaveness Digital... Read more
INTERCARGO reaffirms call for simplicity as IMO climate talks intensify
(Posted on 31/03/25)The International Association of Dry Cargo Shipowners (INTERCARGO) has renewed its call for straightforward... Read more
The Swedish Club reports strong 2024 results
(Posted on 31/03/25)The Swedish Club has delivered strong results for 2024, posting a USD 34 million profit and significantly... Read more
NORDEN adds two newbuilding Capesize leases with purchase options
(Posted on 27/03/25)In line with NORDEN’s positive long-term outlook for Capesize freight rates, the company have... Read more
Enhanced data collection for Western Bulk
(Posted on 27/03/25)OrbitMI, a global provider of maritime software and data products, has expanded its workflow capabilities... Read more
ClassNK appoints new President & CEO and Executive Vice President
(Posted on 27/03/25)Current ClassNK Senior Vice President Hayato Suga has been appointed as President & CEO as well... Read more
ASL sees continued surge in demand for Cape Size carriers
(Posted on 19/03/25)The surge in demand for Cape Size bulk carriers will continue for another six weeks, driven on by increased... Read more
Partnership to enhance compliance and emissions management
(Posted on 18/03/25)OrbitMI, a leading provider of maritime SaaS software, has announced that Istanbul-based Statu Shipping... Read more
INTERCARGO statement on loss of seafarers in Odesa bulker attack
(Posted on 18/03/25)“The International Association of Dry Cargo Shipowners (INTERCARGO) is deeply saddened by the... Read more
DNV white paper on adoption of ammonia and hydrogen fuels
(Posted on 18/03/25)As the shipping industry continues its transition to carbon-neutral fuels, ammonia and hydrogen are... Read more
