#United States #Maritime Partners #BGL #Galveston #West Gulf Marine

BGL Facilitates the Strategic Sale of West Gulf Marine to Maritime Partners

In a notable development within the maritime sector, Brown Gibbons Lang & Company (BGL) has announced the successful sale of West Gulf Marine to Maritime Partners, a prominent player in maritime financing solutions, especially for vessels operating under the Jones Act. This transaction underscores BGL's commitment to being a leading independent investment bank and financial advisory firm.

A Legacy of Excellence in Maritime Operations

Founded in Galveston, Texas, West Gulf Marine has established itself as a premier manufacturer of tank barges, primarily serving sectors that transport black oil, petrochemicals, and refined products through inland and intracoastal waterways. The company has built a robust reputation among significant industry operators, including Kirby Corp, Canal Barge Company, and Enterprise Product Partners. Over the last 40 years, Bryan Fiegel and Keith Fiegel, President and Vice President of West Gulf Marine respectively, have played pivotal roles in shaping the company into a leader in the inland maritime sector.

"It is gratifying to transfer ownership to a group that recognizes the unique maritime culture and is committed to preserving the legacy our family has built over decades," stated Bryan Fiegel. This acquisition marks a significant step for Maritime Partners, as it seeks to complement its existing fleet and continue providing exceptional service to the inland customer base cultivated by West Gulf Marine.

The Role of BGL in the Transaction

BGL's Transportation and Logistics Infrastructure investment banking team served as the exclusive financial advisor for West Gulf Marine during the sale process. Under the leadership of Managing Director Craig Decker, the team leveraged its deep sector knowledge and extensive transaction experience to ensure the successful transition. The positive feedback from both the sellers and the buyer regarding BGL's role is a testament to their effectiveness in positioning West Gulf Marine within the marketplace.

Bryan Fiegel reflected on the process, saying, "BGL did an incredible job articulating our story to potential buyers, which ultimately led us to Maritime Partners, who are poised to usher in a new growth era for West Gulf."

Maritime Partners: A Strategic Acquisition

Maritime Partners is a recognized leader in providing maritime financing solutions, with a specialized focus on vessels engaged in the domestic Jones Act trade. The company manages a fleet of approximately 1,800 vessels, offering customized leasing services across a wide spectrum of credit qualities. Founded in 2015, Maritime Partners has rapidly positioned itself as a significant force in the maritime financing landscape.

The acquisition of West Gulf Marine is expected to not only enhance Maritime Partners' operational capabilities but also to fortify their service offerings across various sectors, including agriculture, chemicals, and petroleum products. The management team at Maritime Partners boasts over 50 years of experience in the maritime field, encompassing chartering, asset management, shipbuilding, and financing—elements that will be crucial in synergizing the newly acquired operations.

Conclusion

This transaction marks a significant milestone in the maritime industry, highlighting the strategic maneuvers companies are making to adapt to an evolving economic landscape. The partnership between West Gulf Marine and Maritime Partners is expected to lead to improved operational efficiency and enhanced service offerings, benefiting both companies and their clients alike. For those interested in maritime operations and financing solutions, keeping an eye on this evolving partnership will be essential as it unfolds in the coming months.

For more information about Maritime Partners, visit www.maritimepartnersllc.com and for Brown Gibbons Lang & Company, check www.bglco.com.