Enstructure Buys Richardson Companies, Expands To Gulf Coast
Enstructure, a terminal and logistics infrastructure company that operates marine and rail terminals, warehouses and trucking fleets in the eastern United States, has announced the acquisition of Houston-based Richardson Companies.
Richardson, also a terminal and logistics company, has primary operations within the Port of Houston and the Port of Mobile, Ala. Richardson was founded in 1969 and specializes in breakbulk operations, handling a variety of breakbulk cargos, including steel, forestry products and project cargo. The company has a total of about 1 million square feet of industrial warehousing in Houston, Baytown and Freeport, Texas, and within Mobile’s Alabama state docks.
The acquisition brings Wellesley, Mass.- and New York City-based Enstructure’s total industrial warehouse capacity to more than 5 million square feet, spread across 20 terminals in the Gulf Coast and East Coast and along the inland river system. The company has a workforce of more than 1,200 employees.
“We are excited to build upon Richardson’s longstanding reputation as a premier breakbulk operator on the Gulf Coast,” said Matthew Satnick and Philippe De Montigny, co-CEOs of Enstructure, in a statement. “We welcome Richardson’s customers and employees to Enstructure and look forward to our partnership. Richardson further expands our terminal network into high-growth Gulf Coast markets and broadens our ability to provide best-in-class service to our customers.
“We look forward to expanding Richardson’s product and service offering, while bolstering the company’s existing customer relationships,” they added.
Richardson Companies’ owners, Kelly, Chance and Mike Richardson, said the company’s existing customers should expect a smooth transition to Enstructure, with many familiar faces remaining in place.
“Enstructure’s expertise in terminal operations and its growing market presence made the company a natural fit,” the Richardsons said in a statement. “Over 270 Richardson employees, including all operating personnel and management, will remain in place following the acquisition. We are confident that Enstructure’s industry-leading service will ensure a seamless transition for Richardson’s customers and employees. We are excited to partner with Enstructure to share best practices and invest in our systems and equipment to create long-term growth opportunities for our customers across the Gulf Coast.”
The chief executives of both the Port of Houston and the Alabama Port Authority reacted positively to news of the acquisition.
“We are excited to have Enstructure join the Port Houston general cargo terminal family,” Port Houston Executive Director Roger Guenther said. “Port Houston is recognized for its prominence in the breakbulk business. We’re looking forward to a successful partnership with Enstructure, as we had with Richardson, growing together and continuing to provide stellar terminal and logistics services in Houston.”
“Gulf ports are some of the fastest-growing gateways in the U.S., and the Port of Mobile is no exception,” Alabama Port Authority Director and CEO John Driscoll said. “As one of the most diverse ports in the country with expansive general cargo facilities, we are thrilled to see Enstructure grow its operation at our terminals. We look forward to continuing to work with them at our facilities and help them serve their large base of customers through Alabama’s only deep-water seaport.”
Founded in 2016, Enstructure is known for acquiring and growing established terminal and logistics companies, like Richardson, and thus building a network of dry, liquid and breakbulk terminals and logistics assets. Enstructure’s cargoes handled include the energy, agriculture, food, manufacturing, construction and public safety sectors.