M&A Deal Summary

Kirby Acquires Higman Marine

On February 4, 2018, Kirby acquired marine company Higman Marine for 419M USD

Acquisition Highlights
  • This is Kirby’s 2nd transaction in the Marine sector.
  • This is Kirby’s 3rd largest (disclosed) transaction.
  • This is Kirby’s 8th transaction in the United States.
  • This is Kirby’s 3rd transaction in Texas.

M&A Deal Summary
Date 2018-02-04
Target Higman Marine
Sector Marine
Buyer(s) Kirby
Deal Type Add-on Acquisition
Deal Value 419M USD

Target

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.

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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 8 of 11
Sector (Marine) 2 of 4
Type (Add-on Acquisition) 7 of 7
State (Texas) 3 of 3
Country (United States) 8 of 11
Year (2018) 1 of 2
Size (of disclosed) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-13 Stewart & Stevenson

Houston, Texas, United States

Stewart & Stevenson LLC is a manufacturer and distributor of products and services for the oil and gas, marine, construction, power generation, transportation, mining and agricultural industries. Stewart & Stevenson LLC was founded in 1902 is headquartered in Houston, Texas.

Buy $710M
FOLLOWING 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 -
Mergr

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