M&A Deal Summary

TEPPCO Marine Services Acquires Cenac Towing Assets

On February 4, 2008, TEPPCO Marine Services acquired marine company Cenac Towing Assets from Cenac Towing Inc for 500M USD

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

M&A Deal Summary

Date 2008-02-04
Target Cenac Towing Assets
Sector Marine
Buyer(s) TEPPCO Marine Services
Sellers(s) Cenac Towing Inc
Deal Type Divestiture
Deal Value 500M USD

Target

Cenac Towing Assets

United States
Cenac Towing Assets include 42 push boats, 89 barges and the economic benefit of certain related commercial agreements. The business serves refineries and storage terminals along the Mississippi, Illinois and Ohio rivers, as well as the Intracoastal Waterway between Texas and Florida.

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Buyer(S) 1

Buyer

TEPPCO Marine Services

Houston, Texas, United States

Category Company
Founded 2008
SectorMarine
DESCRIPTION

TEPPCO Marine Services, LLC engages in the transportation of refined products, crude oil and lube products.


DEAL STATS #
Overall 1 of 2
Sector (Marine) 1 of 2
Type (Divestiture) 1 of 2
Country (United States) 1 of 2
Year (2008) 1 of 2
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-03 Horizon Maritime Vessels

United States

Horizon Maritime Vessels include seven push boats and 17 barges that transport asphalt, bunker fuel and other oil products that require heated barges to storage facilities and refineries along the Mississippi, Illinois and Ohio rivers, as well as the Intracoastal Waterway.

Buy $87M

Seller(S) 1

SELLER

Cenac Towing Inc

Houma, Louisiana, United States

Category Company
Founded 1931
SectorMarine
DESCRIPTION

Cenac Towing, is a provider of towing and tugboat services.


DEAL STATS #
Overall 1 of 1
Sector (Marine) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1