Maritime Partners, LLC, with its taken care of funds, has actually consented to obtain M/G Transport Holdings LLC, from Auxo Investment Partners LLC as well as its associates. Terms of the purchase were not revealed, as well as conclusion of the purchase is anticipated in the 3rd quarter of 2022 based on normal closing problems, consisting of invoice of governing authorizations.
Founded in 1968, M/G is a company of aquatic transport solutions along the West Canal as well asLower Mississippi River Through its fleet of around 300 completely dry freight barges, the firm concentrates on the activity of oil coke, sugar as well as minerals. The firm will certainly remain to run under the M/G brand name and also as a standalone entity, as well as the participants of the monitoring group will certainly proceed in their existing duties.
“We congratulate Maritime Partners on the successful completion of this acquisition. I am excited by the additional resources that Maritime Partners brings to M/G, and the ability to elevate the already high level of service and great value M/G delivers to its customers,” stated Greg Binion, Executive Chairman of M/G.
“We are thrilled to complete the acquisition of M/G. M/G is a natural complement to our platform given the contractual nature of M/G’s business. The M/G fleet further diversifies the vessel capacity solutions we are able to offer the Jones Act community,” stated Bick Brooks, founder as well as chief executive officer of Maritime Partners.
Austin Sperry, founder as well as COO of Maritime Partners, kept in mind “Long-term relationships are critical for success in the domestic maritime industry. We are excited to support M/G’s success by continuing to foster strong relationships with M/G’s customer base over the long-term.”
Reed Smith LLP is working as lawful advice toMaritime Partners RBC Capital Markets, LLC is working as unique economic expert to M/G. Miller Johnson LLP, Barnes & & Thornburg & LLP, as well as Winston &Strawn LLP are working as M/G’s lawful consultants.
