Mergers and Acquisitions

Savage Buys Progressive Barge Line Assets

Savage Inland Marine announced December 28 it has acquired the assets of Progressive Barge Line, one of the largest bunkering and tank barge operators in the Port of New Orleans. The deal includes the acquisition of seven boats ranging from 1,600 to 2,400 hp.;  12 barges ranging from 11,000- to 30,000-barrel capacity; and warehouse and office facilities. It also includes two New Orleans-area fleets on the Mississippi River.

Approximately 60 Progressive Barge Line employees are joining Savage to ensure continued safe and reliable service for customers.

With marine operations based on the Gulf Coast, Savage continues to expand its service offerings for marine transportation, bunkering, vessel management, dock operations, barge fleeting and logistics. The company’s marine fleet now includes 100 liquid tank barges, 42 dry cargo barges and 48 boats.

“We’re excited to grow our inland marine business through the acquisition of Progressive’s young fleet of well-maintained inland tank barges and towboats,” said Kirk Aubry, Savage president and chief executive officer. “We’re also pleased to welcome new team members to Savage who will contribute to the success of our customers and the company.”

“Adding these strategic assets and team members to our expanding operations provides another opportunity for the diversification of our integrated marine services,” said Mike Ellis, Savage executive vice president and group leader, marine solutions. “Progressive’s team, led by Frances Boffone Kuehne, has an outstanding track record of providing safe and reliable bunkering services to their customers. We couldn’t be more proud to welcome them to our team and continue their operational excellence.”

Established in 1946, Savage is based in Salt Lake City, Utah, with operations across North America and internationally. The firm provides comprehensive supply-chain services spanning rail, marine, and truck transportation and logistics, materials handling, and other industrial services for customers in the agriculture, energy, chemical and environmental sectors.