Investment Summary

The Blackstone Group Invests In U.S. Shipping Corp

On August 7, 2006, private equity firm The Blackstone Group invested in transportation company U.S. Shipping Corp

Investment Highlights
  • This is The Blackstone Group’s 3rd transaction in the Transportation sector.
  • This is The Blackstone Group’s 69th transaction in the United States.
  • This is The Blackstone Group’s 4th transaction in New Jersey.
Investment Fate
  • U.S. Shipping Corp went bankrupt in 2009.

Investment Summary

Date 2006-08-07
Target U.S. Shipping Corp
Sector Transportation
Investor(s) The Blackstone Group
Deal Type PIPE

Target

U.S. Shipping Corp

Edison, New Jersey, United States
U.S. Shipping Corp is a provider of long-haul marine transportation services for refined petroleum, petrochemical and commodity chemical products in the U.S. domestic coastwise trade. The Company's existing fleet consists of twelve tank vessels: four integrated tug barge units; one product tanker; three chemical parcel tankers and four ATBs.

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Investor(S) 1

Investor

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


DEAL STATS #
Overall 99 of 362
Sector: Transportation M&A 3 of 7
Type: PIPE M&A Deals 4 of 12
State: New Jersey M&A 4 of 9
Country: United States M&A 69 of 230
Year: 2006 M&A 9 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-01 Emcure Pharmaceuticals

Pune, India

Emcure Pharmaceuticals is a mid-sized pharmaceutical business. The company's activities include research & development, manufacturing of APIs, branded formulations and biotech products, and marketing of these products in India and international markets. Emcure Pharmaceuticals was founded in 1981 and is based in Pune, India.

Buy $372M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-15 GoldToe-Moretz

Newton, New York, United States

Gold Toe-Moretz manufactures a broad portfolio of branded, licensed and private-label socks. Two of the hosiery industry’s leading companies, Gold Toe Investment Corp. and Moretz Inc., will combine in a transaction announced today, creating one of the largest global sock companies.

Buy $466M