American investment firm Maritime Partners has acquired Texas-based West Gulf Marine, a company specialising in the construction of tank barges for the inland and intracoastal waterways of the United States.
Founded in Galveston, West Gulf Marine builds barges used to transport black oil, petrochemicals, and refined products. Its customer base includes major inland operators such as Kirby Corporation, Canal Barge Company, and Enterprise Product Partners.
Bryan Fiegel, President of West Gulf Marine, said, “It is great to be selling the business to a group that understands the maritime culture and will preserve the legacy of the business.” Vice President Keith Fiegel added,
The Fiegel brothers developed West Gulf Marine as an offshoot of their father Harry Fiegel’s Galveston Shipbuilding Company, which was known for oceangoing tank barge construction.
“We started a new operation focused on the inland sector, and after building our first barges for Cenac Towing, we developed a strong following among the leading inland tank barge operators,” Bryan Fiegel said.
The investment banking firm Brown Gibbons Lang and Company served as the exclusive financial advisor to West Gulf Marine in the transaction.