Marquette Transportation Company Holdings, LLC Forms Partnership with BDT Capital Partners, LLC
March 31 2015 - 07:49PM
Business Wire
Marquette Transportation Company Holdings, LLC (“the Company”),
a leading provider of towing services on the inland waterways of
the United States, announced today that BDT Capital Partners, LLC
(“BDT”), through its investment funds, has acquired a majority
interest in the Company, creating a long-term partnership with
current minority shareholders, including CEO and President John
Eckstein, other members of the Eckstein family, and Marquette
management. The Company was a portfolio company of KRG Capital
Partners (“KRG”).
“We met the BDT team as we were beginning to think about a
capital partner for the next 10+ years,” said John Eckstein. “We
were attracted to their long investment horizon and their strategic
approach to partnering with me and the Marquette management team.
We are very excited about the next decade for Marquette.”
”We are thrilled to partner with John, his family, and the
Marquette management team,” said Byron Trott, Chairman and CEO of
BDT. “Marquette has built its industry-leading position by
investing in a world class fleet and providing excellent customer
service. Our long-term capital will provide a solid foundation and
long runway to pursue a number of exciting growth initiatives.”
“KRG was pleased to partner with John Eckstein and the Marquette
management team since March 2007,” said Charlie Gwirtsman, a
co-Founder and Managing Director at KRG. “We believe that through
some key acquisitions and strategic initiatives, the Company was
able to execute on John’s vision of providing more value added
logistics and services to its world class customers.”
Harris Williams & Co. acted as the exclusive financial
advisor to Marquette Transportation Company Holdings, LLC. Bank of
America Merrill Lynch, PNC Bank National Association, and Wells
Fargo Capital Finance acted as joint lead arrangers for a senior
secured credit facility; Bank of America Merrill Lynch also acted
as administrative agent for the facility. BDT & Company, LLC,
an affiliate of BDT, acted as placement agent in connection with
the transaction. Additional terms of the deal were not
disclosed.
About Marquette Transportation Company Holdings, LLC:
Founded in 1978 and headquartered in Paducah, KY, Marquette
Transportation is a leading provider of towing services on the
Inland Waterways. Through its three operating divisions – River,
Gulf-Inland and Offshore – the Company is able to provide
integrated transportation solutions across multiple waterways
stretching from Minneapolis and south of Chicago to New Orleans,
across to Houston, Corpus Christi and Florida, as well as the Gulf
of Mexico and the Eastern Seaboard.
About BDT Capital Partners, LLC:
BDT Capital Partners provides family-owned and entrepreneurially
led companies with long-term, differentiated capital. Based in
Chicago, the firm manages investment funds of more than $8 billion,
with an investor base that has the ability to invest significant
additional capital. Its affiliate, BDT & Company, is a merchant
bank that works with family and founder-led businesses to pursue
their strategic and financial objectives. BDT & Company
provides solution-based advice and access to an extensive network
of world-class closely held businesses.
About KRG Capital Partners:
KRG Capital Partners, founded in 1996, is a Denver-based private
equity firm with $3.3 billion of capital raised in four
institutional funds plus approximately $1 billion deployed on
behalf of equity co-investors. KRG specializes in acquiring
majority interests in middle-market companies and growing them into
larger enterprises through the combination of internal growth and
strategic add-on acquisitions.
About Harris Williams & Co.:
Harris Williams & Co., a member of the PNC Financial
Services Group, Inc., is a Richmond, Virginia-based middle market
investment bank focused on the advisory needs of clients worldwide.
The firm provides sell-side and acquisition advisory, restructuring
advisory, board advisory, private placements and capital markets
advisory services.
Media:Marquette Transportation CompanyBruce Hahn,
270-744-4301orBDT Capital PartnersJennifer Dunne, 312-660-7314