Elliott Bay Design Group LLC (EBDG), Seattle, WA, is now an employee-owned company after its management and employees purchased the firm from its parent company, American Commercial Lines (ACL), Jeffersonville, IN. The transaction closed on December 1, 2011.
After an internal business review, ACL decided to divest itself of EBDG to focus on its core businesses—inland towing and barge operation and construction. ACL operates about 2,500 barges and 125 towboats. It also owns the Jeffboat barge building facility in Jeffersonville on the Ohio River.
Meanwhile, EBDG is an extremely versatile naval architectural and marine engineering firm, with a diverse portfolio—everything from tugs and ocean tank barges to ferries and passenger vessels to sophisticated offshore vessels and workboats.
This past summer, an Elliott Bay Design Group-designed cable ferry went into service on the Willamette River in Oregon
The move allows EBDG to open up ownership to a broad base of employees. EBDG is also in the process of re-opening its second office in New Orleans, LA, and looking forward to growing its staff. Earlier in the year, EBDG sold its previous New Orleans office to the Resolve Marine Group, Fort Lauderdale, FL.
“We effected the management buyout with the goal of growing the firm, pursuing a wider range of projects and having greater flexibility to hire outstanding employees,” said John Waterhouse, Chief Concept Engineer at EBDG. This increased independence also allows EBDG to be more nimble in responding to customers.
“Being an employee-owned company makes EBDG an exciting place to work for 'up and coming' engineers and designers,” said Joe Pritting, EBDG President. “We have a strong, positive culture with a fun, creative working atmosphere.”
Dcember 5, 2011