Marquette Transportation Up For Sale For More Than $1 Billion

By Mike Stone and Greg Roumeliotis

Jan 29 (Reuters) – Marquette Transportation Company LLC, a U.S. towboat operator, is exploring a sale that would worth it at greater than $1 billion and has attracted the curiosity of Dell Inc Chief Executive Officer Michael Dell, in response to individuals conversant in the matter.

Marquette’s homeowners, that embrace its founders and buyout agency KRG Capital Partners LLC, are working with funding financial institution Harris Williams & Co on an public sale for the corporate that’s already underway, the individuals stated this week.

Private fairness corporations and household workplaces are vying for Marquette, together with MSD Capital LP, the non-public funding agency of Michael Dell and his household, the individuals added.

Marquette has annual earnings earlier than curiosity, tax, depreciation and amortization of near $150 million, the individuals stated.

The sources requested to not be recognized as a result of the sale course of is confidential. Marquette, KRG, Harris Williams and MSD representatives didn’t instantly reply to requests for remark.

Paducah, Kentucky-based Marquette supplies towboat companies within the Mississippi River and different main waterways within the United States. It operates greater than 120 boats and 850 barges, serving agricultural and vitality firms.

The firm was created in its present type in 2007 with the merger of three family-owned companies and backing from KRG. (Reporting by Mike Stone and Greg Roumeliotis in New York; enhancing by Andrew Hay)