Macquarie Capital has completed the sale of Centerline Logistics to an investment vehicle managed by Maritime Partners, LLC. The transaction concludes a partnership involving Macquarie Capital, ArcLight Capital Partners, and Steve Kadenacy, who supported Centerline’s growth and operational changes.
Centerline Logistics operates one of the largest fleets of Jones Act-qualified liquid petroleum barges in the United States. The company is involved in transporting and storing petroleum products, ship assist and escort services, general cargo handling, and rescue towing along major U.S. coasts including Alaska, Hawaii, and Puerto Rico.
While under Macquarie Capital’s ownership, Centerline expanded its fleet and service offerings through various growth initiatives and acquisitions. The company maintained a focus on safety and operational excellence during this period.
“Macquarie Capital was honored to support Centerline’s exceptional management team through a period of significant growth and performance,” said Larry Handen, Senior Managing Director at Macquarie Capital. “We are proud of what we accomplished together and confident that Centerline is well-positioned for continued success under Maritime Partners’ ownership.”
Matt Godden, CEO of Centerline Logistics, commented: "Macquarie Capital, Steve Kadenacy, and Arclight have been tremendous partners to Centerline through a variety of challenges and opportunities. We deeply appreciate the unwavering support and guidance from Macquarie Capital and its co-investors. The future with Maritime Partners is a bright next phase for the company and its stakeholders."
Holland & Knight LLP provided legal counsel to Macquarie Capital for this transaction. Orrick, Herrington & Sutcliffe LLP along with Marino, Tortorella & Boyle, P.C. acted as legal counsel to Centerline Logistics. Macquarie Capital also served as exclusive financial advisor to Centerline.