M&A Deal Summary

Kirby Acquires CGBM 100 - Inland Tank Barge Fleet

On November 12, 2018, Kirby acquired marine company CGBM 100 - Inland Tank Barge Fleet from CGBM 100

Acquisition Highlights
  • This is Kirby’s 3rd transaction in the Marine sector.
  • This is Kirby’s 9th transaction in the United States.
  • This is Kirby’s 1st transaction in Louisiana.

M&A Deal Summary
Date 2018-11-12
Target CGBM 100 - Inland Tank Barge Fleet
Sector Marine
Buyer(s) Kirby
Sellers(s) CGBM 100
Deal Type Divestiture

Target

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.

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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 9 of 11
Sector (Marine) 3 of 4
Type (Divestiture) 2 of 4
State (Louisiana) 1 of 2
Country (United States) 9 of 11
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-04 Higman Marine

Houston, Texas, United States

Higman Marine, Inc. is a provider of marine transportation fleet consists of 159 inland tank barges with 4.8 million barrels of capacity, and 75 inland towboats. Higman's fleet moves petrochemicals, refined petroleum products, crude oil, natural gas condensate, and black oil on the Mississippi River System and Gulf Intracoastal Waterway for large midstream and global integrated oil companies.

Buy $419M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-14 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.

Buy $244M

Seller(S) 1

SELLER

CGBM 100

Kenner, Louisiana, United States
Category Company
Sector Marine
DESCRIPTION

CGBM 100 LLC is a marine transportation company registered in the State of Louisiana. Drawing from over 20 years of marine management service experience, we charter a fleet of all welded steel construction, double skinned tank barges to our customers. Our barges, whether by bareboat or fully found charters, are capable of transporting 10,000 barrels of liquid bulk products throughout the Gulf Coast region. All barges have been documented and inspected by the United States Coast Guard.

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 (2018) 1 of 1
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