M&A Deal Summary

Excel Maritime Carriers Acquires Quintana Maritime

On March 20, 2008, Excel Maritime Carriers Ltd. acquired marine company Quintana Maritime Ltd. from First Reserve Management L.P. for 2.5B USD

Acquisition Highlights
  • This is Excel Maritime Carriers’ 1st transaction in the Marine sector.
  • This is Excel Maritime Carriers’ 1st largest (disclosed) transaction.
  • This is Excel Maritime Carriers’ 1st transaction in the United States.

M&A Deal Summary

Date 2008-03-20
Target Quintana Maritime Ltd.
Sector Marine
Buyer(s) Excel Maritime Carriers Ltd.
Sellers(s) First Reserve Management L.P.
Deal Type Add-on Acquisition
Deal Value 2.5B USD
Advisor(s) Citigroup Investment Banking (Financial)
Morgan, Lewis & Bockius LLP (Legal)

Target

Quintana Maritime Ltd.

New York, United States
Quintana Maritime Ltd. is an international provider of dry-bulk cargo marine transportation services, including coal and iron ore.

Search 167,819 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Excel Maritime Carriers Ltd.

Athens, Greece

website


Category Company
SectorMarine
DESCRIPTION

Excel is an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, such as iron ore, coal and grains, as well as bauxite, fertilizers and steel products.


DEAL STATS #
Overall 1 of 1
Sector (Marine) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (United States) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

First Reserve Management L.P.

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1983
PE ASSETS 31.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

First Reserve Corporation is a specialist private equity firm focused on investments in energy companies. First Reserve targets equity investments of $50 to $500 million in companies valued from $100 million to $10 billion. Target areas of interest within the energy industry include energy manufacturing and services (drilling service providers and wellhead equipment manufacturers), energy infrastructure, energy reserves, renewable energy and alternative fuels, and energy related insurance and financial products. First Reserve was established in 1983 and has offices in Greenwich, Connecticut; Houston, Texas; and London.


DEAL STATS #
Overall 23 of 49
Sector (Marine) 1 of 2
Type (Add-on Acquisition) 8 of 18
Country (United States) 20 of 32
Year (2008) 1 of 2
Size (of disclosed) 1 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-01 PBF Energy, Inc.

Parsippany, New Jersey, United States

PBF Energy, Inc. is an independent refiner in North America, operating, through its subsidiaries, oil refineries and related facilities in Delaware City, Delaware, Paulsboro, New Jersey and Toledo, Ohio.

Buy $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-01 9Ren New Energies Group

Madrid, Spain

9Ren Group is a European solar energy company focused on the development, construction, and sale of solar photovoltaic plants and providing turn-key project management for third parties. 9Ren is also involved in the solar thermal business, focusing on the sale of energy and distribution of solar thermal collectors.

Buy -