New York – March 30, 2023 – Carl Marks Advisors, a leading investment bank providing financial and operational advisory services to middle market companies, today announced that it has successfully facilitated a refinancing for Florida Marine Transporters LLC Holdings (“Florida Marine” or the “Company”) with a unit of TCW Asset Management Company LLC (“TCW”).
Founded in 1993, Florida Marine, headquartered in Mandeville, Louisiana, is America’s largest independent, family-owned, Jones-Act-compliant marine transportation company. The Company services its long-standing customer base by providing liquid petrochemical, chemical cargo, and dry cargo transportation services in the inland waterways of the United States, primarily the Gulf intercoastal Waterway and Mississippi River System. The Company operates 100+ vessels and 950+ barges, placing it in the top 5 “Liquid Cargo Barge” operators in the US.
“We are very satisfied by the outcome of the transaction between Florida Marine and TCW,” said Jette Campbell, Partner at Carl Marks Advisors, who worked directly on the deal. “We had a longstanding relationship with the Company’s management and are pleased that we were able to leverage our established platform to identify the right investors and achieve the best outcome for all parties involved.”