• 3 min de lectura
• 3 min de lectura
The sale of IPA Steel Terminal to the Canadian company Logistec was not the result of a divestment strategy, but an opportunity that arose in an operation that, for more than 17 years, had been built under a different logic: organic growth, constant reinvestment, and specialization in handling steel and general cargo in the port of Altamira.
"We were not for sale, we were never for sale," Jurgen Hess states in an interview, reconstructing the origin of a negotiation that surprised even its own directors. The terminal, founded in 2009, had an upward trajectory that led it from handling 400,000 tons in its first year to reaching peaks close to three million tons, in a process marked by continuous investments in infrastructure, equipment, and security.
That positioning – as one of the relevant players within Altamira – was precisely what attracted Logistec. According to what was announced in mid-February of this year, the Canadian firm completed the acquisition of 100% of Inmobiliaria Portuaria de Altamira (IPA) and all its units in the port of Tamaulipas, representing its entry into the Mexican market and, in perspective, its expansion platform towards Latin America.
The initial approach, however, did not have that objective. Just over a year ago, the conversation began as a possible commercial alliance. "We told them they were welcome to form an alliance, but we were not looking to sell or incorporate partners," Hess recalls. The evolution towards a total purchase was the result of an intensive negotiation process and exhaustive due diligence that, in the words of the director himself, reviewed "absolutely everything" and confirmed the operational, administrative, and fiscal soundness of the terminal.
The definitive turn came when the proposal grew from a partial stake to a total acquisition. Behind that decision also influenced the natural departure of some original partners – particularly more passive investors – and the opportunity to integrate the terminal into a network with international scale. Even so, the decision was not easy. "It is the legacy my father (Rudolph Hess) left us; Christian (my brother) and I were the ones who built and raised the business," Hess admits, acknowledging the emotional component of the operation.
Beyond the transaction, IPA's operation reveals why it became an attractive asset. The terminal has a 273-meter dock – currently expanding –, nearly 200,000 square meters of storage areas across its different facilities, a rail spur with capacity to receive up to 40 gondolas in staggered operation, and a fleet of cranes and forklifts designed for high-tonnage loads.
Source: t21
