The New Orleans-based Maritime Partners, LLC (Maritime Partners) has announced that on June 24, an entity controlled by one of its managed funds entered into a definitive agreement to acquire the Seattle, WA-based marine transportation company Centerline Logistics (Centerline) from its principal investors, which include Macquarie Capital and Silverbox Capital co-founder and managing partner, Steve Kadenacy.
According to Maritime Partners, Centerline is a maritime transportation provider and vital component of the United States’ energy and shipping supply chain, as it operates one of the larger fleets of Jones Act-qualified liquid petroleum barges.
“We want to invest in high-quality assets, companies and teams over the long run,” said Bick Brooks, co-founder and CEO of Maritime Partners. “Centerline’s impressive growth, long-term customer relationships, and talented team reflect the sort of demonstrated track record that is essential for a long-term partnership.”
“This acquisition represents a strategic opportunity, and we will seek to unlock significant value under Maritime Partners’ ownership,” added Brooks.
Maritime Partners says the agreement is subject to customary closing conditions, including regulatory approval, and is expected to close in the third quarter of 2025.
Maritime Partners, with a managed fleet of approximately 1,800 vessels in service, is a provider of maritime financing solutions, specializing in vessels that are used in the domestic Jones Act trade.
