InfraRed Capital Partners, an international infrastructure asset manager, has agreed to acquire C3 Limited, a New Zealand-headquartered port logistics and materials handling business, from Brookfield through one of its value-add investment funds. C3 provides logistics and materials handling services to ports and the forestry sectors in New Zealand and Australia. The company operates 15 strategic port and inland sites across the two countries, supporting import and export supply chains for major customers across several industries.
Forestry and timber handling form the largest part of C3’s business. The company operates specialised infrastructure at seaports and mill-integrated sites, providing services that include log marshalling, debarking, chipping and vessel loading. C3 handles approximately half of New Zealand’s total log exports, representing around NZ$3.4 billion in annual export revenue.
The company also operates container logistics facilities and port equipment at key locations across New Zealand. Its services support exporters in sectors including dairy, agriculture and energy. At the Port of Tauranga, New Zealand’s busiest port, C3 handles approximately 50% of container volumes.
C3 has developed long-standing relationships with major customers, with some relationships extending beyond 20 years. This established customer base and its strategic operating locations provide a platform for further business development. InfraRed plans to support C3’s next phase of growth through investment in its existing operations and expansion into related logistics services. The strategy will focus on strengthening the company’s port presence, broadening its service offering and improving support for exporters across the supply chain.
Sven Stubican, Head of European and APAC Investments, Value-Add at InfraRed, said, “What makes C3 particularly compelling is the opportunity to enhance its established position in the container handling and forestry supply chain by broadening the services it offers customers. Over decades, the business has developed a strategic port presence, deep customer relationships and specialist operational capabilities, providing a strong platform for expansion. C3 benefits from a resilient base of core earnings, and we will seek to build on this via attractive adjacent opportunities.” Mr Stubican added that InfraRed had been active in Australia and New Zealand for more than 15 years and would use its regional experience to support C3’s management team and future expansion plans.
Gavin Hudson, Chief Executive of C3, said, “C3 plays an important role in connecting New Zealand and Australian exporters to international markets, built on decades of operational know-how and strategic port and inland locations. We’re proud of what the team has achieved and excited to be working with InfraRed to broaden our services across the export value chain, as we continue to seek new opportunities to support our customers.”
C3 serves customers operating under environmental regulations aligned with international standards, including businesses in the forestry sector. InfraRed Capital Partners manages approximately US$13 billion in equity capital for investors through listed and private funds. The firm has more than 25 years of experience in infrastructure investment and operates from offices in London, New York, Miami, Frankfurt, Madrid, Sydney and Seoul.
The company is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. Its investment approach includes acquiring infrastructure businesses with established operations and supporting their growth through capital investment and operational expertise.
