Centerline Logistics Acquired by Maritime Partners

Centerline Logistics has completed its acquisition by a fund managed by Maritime Partners, a leading provider of maritime financing solutions.

Orrick represented Centerline Logistics.

THE COMPANIES

Centerline Logistics is a leading marine transportation company and vital component of the United States' energy and shipping supply chain, operating along the U.S. West, East and Gulf Coasts, including Alaska, Hawaii and Puerto Rico. Centerline specializes in transporting and storing petroleum products, providing ship assist and escort services, and handling general cargo and rescue towing.

Maritime Partners is a leading provider of maritime financing solutions, specializing in vessels that are used in the domestic Jones Act trade. With a managed fleet of approximately 1,800 vessels in service, they offer tailored leasing services to operators across the full spectrum of credit quality, providing the assets that transport the commodities that represent the primary building blocks of the domestic economy, including agricultural products, chemicals, aggregates, crude oil, and refined petroleum products.

THE IMPACT

"Centerline's position as one of the nation's largest operators of Jones Act-qualified liquid petroleum barges, their best-in-class leadership team, and their impressive track record of all-around operational excellence make this an ideal addition to our portfolio. Building on a decades-long legacy, the outstanding work by their entire team since 2019 has transformed Centerline into a truly unique and differentiated business that has consistently outperformed the market and competitors," said Bick Brooks, Chief Executive Officer of Maritime Partners.

"Our strategic partnership with management and recognition of Centerline's organization-wide excellence position us to leverage the expertise and capabilities of the existing team while providing the capital and resources needed to accelerate Centerline's positive momentum and realize additional growth opportunities," added Brooks.

THE TEAM

Leah Sanzari and David Schwartz led the team that advised Centerline Logistics. The team also included Elizabeth Elias, Jamie Kamen Baroff, Catherine Conners, Dean Corrado, Craig Falls, John Narducci, Amy Ray, Kristin Petersen, Daniel Patrick Kearney, Romina Monetllano Yoerg, Taylor Ball, David Sharrow, Bart Kempf, Kyle Zhu, Jamie Larkin, Tyler Dorf, Adriana Sunkaraneni, Gaelyn Sharp, Matthew Coleman, Jason Flaherty, Keith Tidwell, Millay Kogan, Kyle Holt, Benjamin Schnier and John Stephens.

The Orrick team has advised Centerline on several previous significant transactions, including the $425 million refinancing of its outstanding debt (a Marine Money Jones Act "Deal of the Year"), the acquisition of Saltchuk Marine Services' California ship refueling business, and its inaugural $455 million whole business securitization.

LEARN MORE

• News Release
• Read More Orrick Client Results