Mergers and Acquisitions

Investment Firm Buys Tidewater  Transportation

New York equity investment firm Upper Bay Infrastructure Partners announced February 20 that it has acquired Tidewater Transportation & Terminals from its previous owner, another New York-based investment firm, Stonepeak Infrastructure Partners.

Tidewater, founded in 1932, has evolved into a multi-commodity transportation and terminal company serving the transportation needs of the Pacific Northwest. Headquartered in Vancouver, Wash., the company’s operating area spans 465 miles on the Columbia and Snake River system extending from the Port of Astoria on the Oregon coast to the inland Port of Lewiston in Idaho.

Many on the West Coast still associate Tidewater with Ray Hickey, who got a job as a deckhand on a Tidewater tugboat in 1951 and went on to own the company. Hickey sold Tidewater in 1996 to an East Coast investment group. His son, Wes Hickey, served as Tidewater president from 1996 to 1999.

Recent Growth

In 2014, Tidewater acquired Vancouver-based West Coast Marine Cleaning, adding industrial cleaning, containment and disposal to its services in the Pacific Northwest. In 2017, Tidewater acquired Island Tug & Barge, based in British Columbia, the West Coast’s largest bulk transporter of refined petroleum products.

“The Tidewater management team is excited about our new ownership by Upper Bay and the investor group,” said Bob Curcio, CEO of Tidewater. “When considering the future for the company, the management team’s top priority is to ensure our customers continue to see the same high-quality, economical service that Tidewater has delivered for 87 years.”