KIRBY CORP acquired Allied Transportation Company for approximately $116 million in cash (incl. $10M contingent), a transaction completed in October 2012, structured as all cash (incl. $10M contingent on U.S. Farm Bill sugar provisions). The deal was a Asset purchase.
Allied Transportation Company operates in Marine transportation (coastal), is based in Northeast, Atlantic and Gulf Coast regions, USA. The assets of Allied Transportation Company, a subsidiary of Allied Marine Industries, and two affiliated companies. Allied operates offshore barges and tugboats in the coastal transportation of petrochemicals and dry sugar products in the Northeast, Atlantic and Gulf Coast regions. Fleet of 10 coastwise tank barges (680,000 barrels), three offshore dry-bulk barges (48,000 deadweight tons), and seven tugboats.
We are very pleased to announce our agreement with Allied. Operating as a U.S. Jones Act carrier primarily in the offshore petrochemical business, Allied has one of the most complementary coastal fleets to Kirby's existing coastal and inland operations.
Complementary Jones Act coastal fleet whose customers were largely already Kirby inland tank-barge customers. Cross-sell to overlapping petrochemical customer base across inland and coastal services. Kirby coastal marine transportation operations
We are very pleased to announce our agreement with Allied. Operating as a U.S. Jones Act carrier primarily in the offshore petrochemical business, Allied has one of the most complementary coastal fleets to Kirby's existing coastal and inland operations.Joe Pyne, Chairman and CEO, Kirby Corporation
Advisory firms were not disclosed for this transaction.