NY/NJ auto terminal gets capital injection, new lease

Monday, January 14, 2013

FAPS, Inc., the leading terminal for import and export of automobiles in the Port of New York and New Jersey, said on Friday it had completed a recapitalization with Seacoast Capital. Seacoast is an investment firm with offices in Danvers, Mass. and San Francisco that invests both mezzanine and equity capital in small growing companies. The terminal said as part of the recapitalization it has reached agreement with the Port Authority of New York and New Jersey for an a...

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