PADUCAH, Ky.--(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.