Rocktree to acquire Atria to expand global footprint

Rocktree Logistics Group, a leading infrastructure service provider through a global network of offshore terminals, shuttle vessels, barges, and other turnkey solutions, today announced that it has agreed to acquire 100% of a group of companies known as ATRIA Soluciones Logísticas ("Atria"), a leading South American port services and river transportation group. Through this transaction, Rocktree will significantly expand its global footprint across the commodities and agriculture value chain, offering a broader range of services to new and existing customers. Rocktree will acquire Atria from Southern Cross Group, and the financial terms of the transaction were not disclosed.

 

Daniele Pratolongo, CEO of Rocktree, said, "We are thrilled to welcome Atria to Rocktree. This transaction represents an important step in our history, as we will significantly expand service offerings for our customers. Atria's assets, operations, and long-term customer relationships are unparalleled in our industry, and our combined company will be well-positioned for day-one scalability and long-term growth and value creation as we work together to expand our leadership in logistics solutions across the globe."

 

In connection with the transaction and other expansion plans, Rocktree has secured private credit financing of up to $350 million from the Blue Ocean maritime investment platform managed by EnTrust Global, a leading global alternative asset management firm. Pratolongo continued, "Equally important to this acquisition is the firm that has helped to finance it. We would like to extend our thanks to the entire team at EnTrust Global. As we look to continue to expand Rocktree's offerings with Atria under our wing, this financing will help fuel Rocktree's next phase of growth, which may include a combination of organic growth initiatives coupled with other strategic M&A opportunities."

 

Atria is one of the largest logistics companies operating on the Paraguay-Parana Waterway ("PPW"), South America's most critical waterway, playing an important role in the exportation of agricultural commodities worldwide. Atria's distinguished portfolio includes push-boats, barges, port terminals, an offshore floating crane, a shipyard and repair facility, and other key land-based assets. The acquisition will enable Rocktree to diversify across regions, commodities, and product offerings, achieve meaningful commercial synergies, and rapidly scale its global platform in the Americas. Notably, the combination will allow Rocktree to unlock opportunities in the food and feed supply chain by building on Atria's leading position in the PPW market and optimizing grain transport operations with Rocktree's turnkey solutions worldwide.

 

An estimated $75 trillion in infrastructure spending is required to support population growth, improve existing infrastructure, and invest in new technology to digitize and decarbonize the global economy. New and expanding infrastructure projects require a significant volume of raw commodities, which are key inputs for steel, aluminum, energy, and food, among others. As raw commodities are increasingly sourced from remote locations without port infrastructure, offshore floating terminals and other logistics solutions are necessary for the global movement of commodities. Through this transaction, Rocktree is well-positioned to continue capitalizing on this strong market momentum and solve for pinch-points in global supply chains.1

 

"In Rocktree, we have found an ideal partner for Atria. By embarking on this next phase of our growth journey alongside the established Rocktree team, we will be able to expand and enhance the integral services our customers rely on," said Francisco Mackinlay, CEO of Atria. "Our shared cultural values of reliability, collaboration, and safety will facilitate a seamless integration and allow us to grow together and deliver even more offerings for our partners."

 

The transaction is expected to close in the first quarter of 2025, subject to the satisfaction of customary conditions.

 

Evercore served as financial advisor while a group of law firms led by Proskauer Rose LLP and Beccar Varela served as legal advisors to Rocktree. BNP Paribas served as financial advisor while a group of law firms led by Salaverri, Burgio & Wetzler Malbrán served as legal advisors to Southern Cross Group.

 

Rocktree Logistics Group is a leading global infrastructure service provider through its network of offshore floating terminals, shuttle vessels, barges, and other turnkey solutions. Since its founding in 2007, Rocktree has delivered reliable, cost-effective, and lower emissions logistics solutions. With 10 global offices and nearly 900 employees, Rocktree ensures seamless logistics through strong partnerships with international traders, producers, and end-users across the Americas, Asia, and West Africa with a broad range of commodities.

 

Atria was founded in 1994 and is one of the largest operators in the Paraguay-Parana Waterway in South America. It has over 500 employees and operations in five countries across over 4,000 km of waterways, differentiating itself as the sole operator of liquid cargo in the Alto Parana. Atria offers dry and liquid bulk transportation, along with port services, providing an integrated service offering to its clients.

 

1 Source: Global Infrastructure Hub (gihub.org), Deloitte. Infrastructure needs defined as new investment, replacement investment and spending on maintenance where the investment will substantially extend the lifetime of an asset, but excluding land purchases. Needs determined on the basis that countries match the performance of their best performing peers in terms of the resources they dedicate to infrastructure investment