M&A Deal Summary

Kirby Acquires Savage - Inland Tank Barge Fleet

On January 30, 2020, Kirby acquired transportation company Savage - Inland Tank Barge Fleet from Savage Co s.

Acquisition Highlights
  • This is Kirby’s 5th transaction in the Transportation sector.
  • This is Kirby’s 11th transaction in the United States.
  • This is Kirby’s 1st transaction in Utah.

M&A Deal Summary
Date 2020-01-30
Target Savage - Inland Tank Barge Fleet
Sector Transportation
Buyer(s) Kirby
Sellers(s) Savage Co s.
Deal Type Divestiture

Target

Savage - Inland Tank Barge Fleet

Midvale, Utah, United States
Savage's Inland Tank Barge Fleet provides 90 inland tank barges and 46 inland 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 11 of 11
Sector (Transportation) 5 of 5
Type (Divestiture) 4 of 4
State (Utah) 1 of 1
Country (United States) 11 of 11
Year (2020) 1 of 1
PREVIOUS 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

Savage Co s.

Midvale, Utah, United States
Category Company
Sector Transportation
DESCRIPTION

Savage Co's. is a provider of supply-chain solutions to customers in the production, manufacturing and distribution of energy resources and other essential commodities.

DEAL STATS #
Overall 2 of 4
Sector (Transportation) 2 of 2
Type (Divestiture) 2 of 4
State (Utah) 1 of 2
Country (United States) 2 of 4
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-28 Progressive Barge Line

Westwego, Louisiana, United States

Progressive Barge Line, Inc. owns and operates 7 push boats ranging from 1570 to 2400 Horsepower and 12 barges with capacity ranging from 11,000 to 30,000 barrels. Progressive Barge Line, Inc. was founded in 1977 and is based in Westwego, Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-04 Transportation Infrastructure Partners

New York, New York, United States

Transportation Infrastructure Partners engages in acquiring and operating essential transportation and logistics infrastructure throughout the United States.

Buy -
Mergr

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