Maritime Partners To Acquire Centerline Logistics
Metairie, La.-based Maritime Partners LLC, a leading provider of maritime financing solutions primarily focused on Jones Act vessels, has announced that an entity controlled by one of its managed funds entered into a definitive agreement to acquire marine transportation company Centerline Logistics (formerly Harley Marine) from its principal investors, which include Macquarie Capital and Silverbox Capital co-founder and managing partner, Steve Kadenacy. The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close in the third quarter of 2025.
Centerline Logistics is a leading marine transportation company operating along the West Coast, East Coast and Gulf Coast of the United States, including Alaska, Hawaii and Puerto Rico. The company was formerly known as Harley Marine Services but rebranded as Centerline Logistics Corporation in January 2020 following an ownership change in July 2019.
The rebrand was accompanied by a restructuring and a focus on improving the company’s operational and financial stability. Centerline has steadily grown in recent years to expand its fleet and service offerings.
“Along with our outstanding partners at Macquarie Capital, we have supported Centerline’s transformative acquisitions and expansion in recent years,” Kadenacy said. “We are proud of Centerline’s unwavering commitment to safety, excellence and operational performance under our stewardship. Macquarie Capital’s strategic vision and collaborative approach have been instrumental in driving Centerline’s progress. We are confident that Maritime Partners is the ideal partner to continue this culture of excellence.”
Maritime Partners is a leading provider of maritime financing solutions, specializing in vessels used in the domestic Jones Act trade. With a managed fleet of approximately 1,800 vessels in service, Maritime Partners offers tailored leasing services to operators across the full spectrum of credit quality. A privately held company founded in 2015, Maritime Partners provides assets that transport commodities including agricultural products, chemicals, aggregates, crude oil and refined petroleum products. Its management team leverages more than 50 years of operational experience in chartering, asset management, shipbuilding and financing across all marine asset classes.
Larry Handen, senior managing director at Macquarie Capital, praised Centerline’s management team and CEO Matt Godden, which he said have “consistently delivered superior results.”
“We are confident the company will continue to thrive under Maritime Partners’ deep expertise and proven track record in the maritime sector,” Handen said.
“We want to invest in high-quality assets, companies and teams over the long run,” said Bick Brooks, co-founder and CEO of Maritime Partners. “Centerline’s impressive growth, long-term customer relationships and talented team reflect the sort of demonstrated track record that is essential for a long-term partnership. This acquisition represents a strategic opportunity, and we will seek to unlock significant value under Maritime Partners’ ownership.”
The acquisition represents an opportunity for portfolio diversification across asset types, counterparties and geographies. Centerline’s fleet includes articulated tug barges (ATBs), bunker and terminal barges, tugboats, deck cargo barges and towboats. According to Inland River Record, Centerline Logistics owns and/or operates 18 inland towboats, including 11 already owned by Maritime Partners.
“Maritime Partners will bring deep maritime sector expertise and capital resources to Centerline, while Centerline will contribute proven operational excellence that we believe will serve to drive innovation and expand our capabilities in the Jones Act maritime sector,” Brooks added.
