FTAI Infrastructure Inc. (NASDAQ:FIP) (the "Company" or "FIP") announced today that it has completed the acquisition of AP Shale Logistics ManagementCo LLC, doing business as Tidewater Logistics ("Tidewater"), a barge and rail transloading company with operations in Ohio, West Virginia, and Texas. The Company acquired Tidewater for a cash consideration of approximately $45 million, funded through an upsizing of FIP’s existing term loan with existing lenders.

Tidewater Logistics is an established transloading platform, highly complementary with FIP’s Wheeling & Lake Erie Railway, serving producers, shippers, and industrial customers across key shale and energy markets in the Appalachian Basin and Gulf Coast region. FIP expects Tidewater to generate $9 million of Adjusted EBITDA in the next twelve months, with additional upside from expanded customer relationships, increased throughput volumes, and integration with FIP’s broader rail platform.