Gateway Terminal Announces Partnership with Enstructure
New Co-COO’s also announced for Connecticut’s largest port terminal operator
NEW HAVEN, Conn. – May 7, 2019 – Larry Smith, founder of Gateway Terminal, which is the largest port terminal operator in the State of Connecticut, has partnered with Enstructure, a bulk terminals and logistics company. The partnership, which was formed in 2018 with Gateway’s New Haven assets, recently expanded its footprint to New London after the company was selected by the Connecticut Port Authority as the operator of the New London State Pier.
Mr. Smith remains very involved as both a significant investor in Enstructure and as an advisor to the senior Enstructure and Gateway management teams. In addition, Mr. Smith announced that Mark Augur and Bob Ober, long time employees of Gateway, have been promoted to Co-COOs of Gateway. Under Mark and Bob’s leadership, Gateway looks forward to continuing their mission to provide best-in-class terminal and logistics service solutions to its customers.
Enstructure has experienced rapid growth over the past two years. Headquartered in Wellesley, MA with an office in New York City, Enstructure is a privately-owned company with operations along the upper and lower Mississippi River and the Northeast United States.
Matt Satnick, Chairman of Enstructure, said: “Larry Smith and the Gateway management team have created a terminal and logistics business with irreplaceable infrastructure and world-class services in an optimal location. Gateway is well-positioned to experience strong growth, led by a deep and experienced management team. We are excited about our partnership with Larry and the Gateway team as we continue to build a valuable terminal and logistics platform.”
Mr. Smith, said: “We are excited about our partnership with the Enstructure team. After years of interest from various potential partners, it became evident to me that Enstructure provided the right balance of industry expertise, growth capital and appreciation for the entrepreneurial spirit that drives Gateway’s success. Given the numerous opportunities in front of us, our partnership with Enstructure positions Gateway for strong future growth.”
Gateway, founded in 1985 by Larry Smith, is a privately held, Connecticut-based company that started on a vacant eight-acre parcel of land and a 400-foot wooden pier with a draft of 20 feet. Construction began in 1986 – the four existing petroleum tanks were rebuilt, and three additional tanks were added as well as a new 750-foot long concrete pier that was dredged out to 35 feet at low water. While the dock and tanks were under construction, three large concrete silos were built that would serve as the largest cement storage facility in the State of Connecticut.
Fast forward to 2019 – Gateway currently operates five terminals on approximately 75 acres of land in and around the Port of New Haven. Gateway has over 100 employees and its management team has over 275 years of combined stevedoring, terminal operations, transportation and sales experience. Realizing over 200 vessel and barge calls per year, Gateway typically handles approximately 2 million net tons of cargo annually. In addition, the company’s intermodal rail facility handles approximately 2,000 railcar loads per year.
Gateway also owns and operates a trucking fleet to move cargo to and from the docks for its customers, while its multiple warehouses and storage yards safely store hundreds of thousands of tons of material per year. In addition, Gateway owns and operates a fleet of 10 U.S. flagged Jones Act vessels comprised of 6 tug boats and 4 barges that operate from Maine to Houston, as well as parts of the Caribbean.
The Gateway management team will continue to lead the organization in partnership with senior management from Enstructure.
For more information on Gateway Terminal, please visit gatewayt.com.