Mergers and Acquisitions

McDonough Acquires Barges From J.R. Gray

McDonough Marine Service announced December 15 it had acquired 23 barges from J.R. Gray Inc. in an-all cash buyout. The purchase includes 14 power winch, spud barges with sizes ranging from 140 by 55 feet to to 120 by 30 feet, four 195- by 35-foot material deck barges, and  five 24- by 10-foot truckable work float barges.

“The purchase of this portion of the J.R. Gray assets is a great supplement to McDonough’s more than 600 barge fleet,” said Pat Stant, McDonough president. “The company’s spud barges made this purchase most attractive. This acquisition will bring our power winch, spud barge fleet to 54 vessels, providing more market capacity to service our clients.  Additionally, the proximity of the vessels to our core operating locations allowed ease of transition into our existing client base.”

Founded in 1945, McDonough Marine Service is a third-generation, family owned, barge leasing and cargo transportation company based  in New Orleans, with offices in Houston and Norfolk. The company is the largest deck barge chartering company in the U.S., with 17 barge fleeting locations on the Gulf Coast, East Coast and Upper Mississippi River. The operating fleet numbers more than 600 barges and includes deck, spud, winch spud, aggregate, open hopper and shale waste barges of diverse lengths and widths. McDonough also owns two inland tugboats servicing the project cargo market, as well as truckable tugs for bare lease.