Maritime Partners acquires tank barge builder West Gulf Marine
Written by Nick Blenkey
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Metairie, La., headquartered Maritime Partners LLC, the largest lessor of marine equipment in the United States, has reportedly added West Gulf Marine, a shipyard focused on tank barge construction, to its portfolio.
Cleveland, Ohio-headquartered investment bank and financial advisory firm Brown Gibbons Lang & Company (BGL) says that its transportation & logistics infrastructure investment banking team served as exclusive advisor to Galveston, Texas-based West Gulf Marine in the transaction.
Founded and headquartered in Galveston, West Gulf Marine specializes in the construction of tank barges used to transport black oil, petrochemicals, refined products, and more along the inland and intracoastal waterways, serving many major operators, including Kirby Corporation, Canal Barge Company and Enterprise Product Partners, and more.
Brothers Bryan and Keith Fiegel, president and vice president of West Gulf Marine, respectively, have grown the business over the past 40 years to become one of the premier barge builders for the inland maritime sector.
“It is great to be selling the business to a group that understands the maritime culture and will preserve the legacy of the business,” said Bryan Fiegel. “This will provide Maritime Partners with a first-class operation that will complement their fleet needs while continuing to service the inland customers that West Gulf has served for decades,” added Keith Fiegel.
West Gulf Marine started as an offshoot of their father, Harry Fiegel’s Galveston Shipbuilding Company, a specialist in the construction of oceangoing tank barges.
“We started a new operation focused on the inland sector, and after building our first barges for Cenac Towing, we developed a strong following among the leading inland tank barge operators,” said Bryan Fiegel. “BGL did an incredible job positioning and communicating our story to the market which enabled us to find Maritime Partners who will usher in a new era of growth for West Gulf while maintaining the culture and dedication to building a premium product.”
