New York, NY /PRNewswire/ - Ridgewood Infrastructure LLC ("Ridgewood"), a leading infrastructure investor in the U.S., and Savage Enterprises, LLC ("Savage"), a global transportation and materials handling company, today announced the formation of Transportation Infrastructure Partners LLC, a joint venture partnership focused on acquiring and operating essential transportation and logistics infrastructure throughout the United States. Savage will be the operator of investments made by the venture.
"Savage is one of the most well-respected transportation and logistics companies in North America," said Ryan Stewart, Managing Director of Ridgewood Infrastructure. "Over its 70+ year history, Savage has distinguished itself as a leading provider of transportation, materials handling, environmental, and other industrial services."
"We're excited about our relationship with Ridgewood—a first of its kind for our company," said Kirk Aubry, President and Chief Executive Officer of Savage. "Ridgewood is a highly capable partner with deep experience in the industries we serve and relationships that will help ensure the success of Transportation Infrastructure Partners."
Ross Posner, Managing Partner of Ridgewood Infrastructure said: "We are very pleased to be partnering with Savage to build Transportation Infrastructure Partners into an important owner and operator of critical transportation and logistics infrastructure. Ridgewood and Savage share clear cultural and strategic alignment, and we bring complementary resources and capabilities to the partnership. We look forward to working with Savage for many years to come."
About Ridgewood Infrastructure
Ridgewood Infrastructure invests in essential infrastructure in the U.S. In addition to Transportation Infrastructure Partners, some of Ridgewood's recent investments include the Vista Ridge Regional Water Supply Project, a long-term contracted 142-mile water pipeline, which is expected to supply the city of San Antonio, Texas with approximately 20 percent of its fresh water; Undine LLC, which owns and operates regulated water and wastewater utilities in several major U.S. markets; and SiEnergy, which is among the largest and fastest growing regulated natural gas local distribution companies in Texas, serving approximately 25,000 customers.
Ridgewood Infrastructure is part of the affiliated Ridgewood Companies, a leading real asset investment manager with $6 billion in total capital and commitments focused on investments in infrastructure and energy. For more information, please visit www.ridgewoodinfrastructure.com.
Established in 1946, Savage moves and manages critical materials for Customers using rail, trucks, and marine vessels, and through the design, construction, and operation of terminals and other industrial facilities across North America and internationally. Our purpose is to enable our Customers and Partners to Feed the World, Power Our Lives, and Sustain the Planet. As such, we provide comprehensive services across Customers' supply chains in the Agriculture, Energy and Chemical, and Environmental Sectors. For more information, please visit www.savageservices.com.