Maritime Partners (via Project Merchant Acquisition) Acquires American Tanker Holding Company from AMSC ASA
August 22, 2023
Funds managed by Maritime Partners, LLC (through newly-formed Project Merchant Acquisition LLC) agreed to buy American Tanker Holding Company, Inc. (ATHC), AMSC ASA's Jones Act tanker business, for aggregate gross cash proceeds to AMSC of US$249.3 million (enterprise value reported at US$746.7 million). ATHC owns nine handysize product tankers and one handysize shuttle tanker on long-term bareboat charters to Overseas Shipholding Group and Keystone Shipping; the deal is intended to complement Maritime Partners' existing vessel-lease portfolio and diversify lessee and asset exposure in the protected Jones Act market.
- Buyers
- Project Merchant Acquisition LLC, Maritime Partners, LLC
- Targets
- American Tanker Holding Company, Inc. (ATHC)
- Sellers
- AMSC ASA
- Industry
- Transportation
- Location
- Louisiana, United States
- Transaction Type
- Buyout
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