Louisiana-based Maritime Partners recently closed a groundbreaking $750 million warehouse facility, a first of its kind in the industry. The facility will be collateralized by three wholly owned business lines within one of its managed funds, with a syndicate of lenders led by ATLAS SP Partners. The initial portfolio includes Jones Act tankers, US flagged tankers, and other vessels used in coastal and international trade. Future additions will include a fleet of barges and newbuild vessels operating in inland marine and coastwise trade.
The proceeds from this warehouse facility will be used by Maritime Partners for future acquisitions, refinancing, and other general corporate purposes. Bick Brooks, co-founder and CEO of Maritime Partners, expressed excitement about the deal, highlighting the increased borrowing capacity and the company’s strong access to capital. The partnership with long-time partners ATLAS and Deutsche Bank, along with new lender Goldman Sachs, demonstrates Maritime Partners’ best-in-class approach to securing funding.
Maritime Partners’ strategic move not only enhances its financial flexibility but also positions the company for further growth and expansion in the maritime industry. The successful closing of this significant deal reflects the company’s strong relationships with key financial partners and its commitment to strategic investment in its business lines. With a focus on future acquisitions and operational enhancements, Maritime Partners is poised for continued success in the industry.
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