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Rail News: Intermodal

Watco Supply Chain invests in MID-SHIP Group


Watco Supply Chain Services LLC (WSCS) has purchased an interest in MID-SHIP Group LLC (MSG), which operates under three divisions: Marine, Logistics, and Kinder Morgan Logistics (KML).

Watco and MSG have had a long business relationship, particularly among MSG's logistics and KML business units and Watco's WSCS and Terminal and Port Services assets and operations. The new investment "further deepens that relationship and extends the companies' cooperation into marine chartering and international market expansion," Watco officials said in a press release.

Financial terms were not disclosed.

Watco joins the existing MSG ownership group, which includes an affiliate of Kinder Morgan Inc. and the executives of MID-SHIP Marine Inc., including its chairman, Jeff Armstrong.

"By leveraging MSG's ocean marine, barge and bulk trucking expertise with Watco's rail, highway logistics and supply chain expertise, we will provide our customers an expanded operations service and technology offering for all their logistics needs via our global network of U.S. domestic and international offices," said Armstrong.

The leadership team will include Eric Wolfe, president of WSCS and the newly appointed chief executive officer of MSG.

Watco Supply Chain Services is a subsidiary of Watco Cos. LLC.

Contact Progressive Railroading editorial staff.

More News from 4/30/2018