SEACOR Holdings Inc. (“SEACOR”) has signed a definitive agreement to sell Inland River Transport Holdings LLC (“SCF”) to Ingram Barge Company LLC (“Ingram”), a division of Nashville-based Ingram Marine Group, according to the company's release.
Since joining the SEACOR family of businesses over two decades ago, SCF now includes more than 1,000 covered dry cargo hopper barges, eight 6,000-plus horsepower towboats, and a network of terminal and fleeting infrastructure along the Mississippi River.
The U.S. inland river system covers 12,000 miles of commercially navigable waterway channels and provides a low cost, sustainable mode of domestic freight transportation relative to over-the-road or rail. Transporting approximately 630 million tons of staple agricultural goods, industrial products like steel and cement, and bulk liquids every year, it is at the center of the U.S. economy and serves as a gateway to the global marketplace.
Ingram operates across more than 4,500 miles of the U.S. inland waterways system transporting a variety of essential agriculture and industrial commodities via 4,000 covered and open top dry cargo and liquid tank barges and 150 towboats.
SEACOR Holdings Inc., a portfolio company of American Industrial Partners, is a diversified holding company, with interests in domestic and international transportation and logistics assets. American Industrial Partners is an operationally-oriented private equity investor that is distinctively focused on buying industrial businesses with operations in the U.S., Canada, and other developed markets and creating value through business building strategies. American Industrial Partners manages approximately $16 billion on behalf of its limited partners.
SCF provides integrated logistics and barge transportation services on the U.S. inland waterways.
Ingram Barge Company LLC operates a fleet of approximately 150 towboats and 4,000 barges that transport aggregates, grain, fertilizer, coal, ores, alloys, steel products, chemicals, and other products.