INVESTMENT VEHICLE MANAGED BY MARITIME PARTNERS TO ACQUIRE CENTERLINE LOGISTICS

NEW ORLEANS, June 26, 2025 /PRNewswire/ -- Maritime Partners, LLC ("Maritime Partners"), a leading provider of maritime financing solutions primarily focused on Jones Act vessels, announces that on June 24, 2025, an entity controlled by one of its managed funds entered into a definitive agreement to acquire premier marine transportation company Centerline Logistics ("Centerline") from its principal investors, which include Macquarie Capital and Silverbox Capital co-founder and managing partner, Steve Kadenacy.

"Along with our outstanding partners at Macquarie Capital, we have supported Centerline's transformative acquisitions and expansion in recent years," said Centerline board member Steve Kadenacy. "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."

Larry Handen, senior managing director at Macquarie Capital, added, "Macquarie Capital has been privileged to partner with Centerline's outstanding management team, particularly Matt Godden, the company's CEO, and his exceptional leadership team, who 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."

Centerline – a leading maritime transportation provider and vital component of the United States' energy and shipping supply chain – operates one of the larger fleets of Jones Act-qualified liquid petroleum barges. As an essential service provider to its customers, Centerline has steadily grown in recent years to expand its fleet and service offerings.

"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," added Brooks. "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.  We also want to thank our predecessor ownership group for their strategic vision and professional partnership throughout this process."

This acquisition will represent a significant transaction for Maritime Partners and its managed fund, bringing with it not only a management team with an impressive combination of knowledge and expertise, but also a significant opportunity for portfolio diversification across asset types, counterparties and geographies.

The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close in the third quarter of 2025.

ABOUT MARITIME PARTNERS
Maritime Partners is a leading provider of maritime financing solutions, specializing in vessels that are used in the domestic Jones Act trade. With a managed fleet of approximately 1,800 vessels in service, we offer tailored leasing services to operators across the full spectrum of credit quality. A privately held company founded in 2015, Maritime Partners provides the assets that transport the commodities that represent the primary building blocks of the domestic economy, including agricultural products, chemicals, aggregates, crude oil, and refined petroleum products. Our management team leverages more than 50 years of operational experience in chartering, asset management, shipbuilding, and financing across all marine asset classes. To learn more about Maritime Partners please visit www.maritimepartnersllc.com.

ABOUT CENTERLINE
Centerline Logistics is a leading marine transportation company operating along the U.S. West, East and Gulf Coasts, including Alaska, Hawaii and Puerto Rico. Centerline specializes in transporting and storing petroleum products, providing ship assist and escort services, and handling general cargo and rescue towing. Centerline is committed to delivering exceptional customer service while upholding its responsibilities to employees, shareholders, communities and the environment. To learn more about Centerline Logistics, please visit www.centerlinelogistics.com.

CONTACT:
Greg Chase
Maritime Partners, LLC
[email protected]
(504) 264-5870

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SOURCE Maritime Partners