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Jax Daily Record Monday, Aug. 26, 201904:21 PM EST

First State Investments buys Jacksonville-based Patriot Rail and Ports

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First State is an infrastructure investment firm headquartered in Sydney, Australia.
by: Mark Basch Contributing Writer

First State Investments announced an agreement Monday to buy Jacksonville-based Patriot Rail and Ports from SteelRiver Infrastructure Partners.

Terms of the deal were not disclosed.

Patriot operates 12 short-line freight railroads with 585 track miles across 14 states. SteelRiver acquired the company in 2012. Transportation industry news outlets reported early this year the firm was looking to sell it.

First State is an infrastructure investment firm headquartered in Sydney, Australia.

“Patriot is a great addition to our global infrastructure investment portfolio and provides further diversification by sector and geography,” said Danny Latham, a First State partner, in a news release. 

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