M&A Deal Summary

Kirby Acquires Cenac Marine - Marine Transportation Fleet

On March 14, 2019, Kirby acquired marine company Cenac Marine - Marine Transportation Fleet from Cenac Marine for 244M USD

Acquisition Highlights
  • This is Kirby’s 4th transaction in the Marine sector.
  • This is Kirby’s 5th largest (disclosed) transaction.
  • This is Kirby’s 10th transaction in the United States.
  • This is Kirby’s 2nd transaction in Louisiana.

M&A Deal Summary
Date 2019-03-14
Target Cenac Marine - Marine Transportation Fleet
Sector Marine
Buyer(s) Kirby
Sellers(s) Cenac Marine
Deal Type Divestiture
Deal Value 244M USD

Target

Cenac Marine - Marine Transportation Fleet

Houma, Louisiana, United States
Cenac Marine LLC - Marine Transportation Fleet consists of 63 30,000-barrel inland tank barges with approximately 1.9 million barrels of capacity, 34 inland towboats, and 2 offshore tugboats. The average age of the Cenac fleet is approximately four years for the tank barges and approximately six years for the towboats.

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Buyer(S) 1

Buyer

Kirby

Houston, Texas, United States
Category Company
Founded 1921
Sector Transportation
Employees5,450
Revenue 3.1B USD (2023)
DESCRIPTION
Entrance to Kirby Corporation's corporate headquarters in Houston, Texas.
Entrance to Kirby Corporation's corporate headquarters in Houston, Texas.

Kirby is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. Kirby transports petrochemicals, black oil products, refined petroleum products and agricultural chemicals. Kirby was formed in 1921 and is based in Houston, Texas.

DEAL STATS #
Overall 10 of 11
Sector (Marine) 4 of 4
Type (Divestiture) 3 of 4
State (Louisiana) 2 of 2
Country (United States) 10 of 11
Year (2019) 1 of 1
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-12 CGBM 100 - Inland Tank Barge Fleet

Kenner, Louisiana, United States

CGBM 100 LLC - Inland Tank Barge Fleet consists of 27 CGBM's 10,000 barrel inland marine tank barges which have a total capacity of approximately 270,000 barrels.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-30 Savage - Inland Tank Barge Fleet

Midvale, Utah, United States

Savage's Inland Tank Barge Fleet provides 90 inland tank barges and 46 inland towboats.

Buy -

Seller(S) 1

SELLER

Cenac Marine

Houma, Louisiana, United States
Category Company
Founded 1920
Sector Marine
Employees400
DESCRIPTION

Cenac Marine LLC is an operator of tank barges and towboats participating in the inland tank barge transportation industry in the United States. Cenac is known throughout the towing industry for its excellence in customer service, highlighted by an impeccable safety record and an unwavering commitment to strict maintenance and operational standards built upon a foundation of experience dating back to the 1920s.

DEAL STATS #
Overall 1 of 1
Sector (Marine) 1 of 1
Type (Divestiture) 1 of 1
State (Louisiana) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
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