Maritime Partners, a maritime leasing and financing services company, has purchased M/G Transport Services from Auxo Investment Partners.
M/G offers marine transportation services in the lower Mississippi River area and along the west canal to Houston, Texas. With over 300 dry cargo barges, M/G focuses on the movement of petroleum coke, sugar, barite and other materials. M/G will continue to operate under the M/G brand as a standalone entity and the members of the management team will continue in their current roles.
“We are thrilled to complete the acquisition of M/G, which is a natural complement to our platform given the contractual nature of M/G’s business,” comments Bick Brooks, co-founder and CEO of Maritime Partners. “The M/G fleet also further diversifies the vessel capacity solutions we are able to offer the Jones Act community.”
RBC Capital Markets LLC served as financial advisor to M/G. Miller Johnson LLP, Barnes & Thornburg LLP, Winston & Strawn LLP and BDO USA LLP served as M/G’s advisors. Reed Smith LLP served as legal counsel to Maritime Partners. PNC Business Credit provided financing to Auxo throughout its ownership of M/G, and Auxo facilitated their continuation as the debt partner to M/G under Maritime Partners’ ownership.