American Commercial Lines Inc has signed an agreement to acquire the assets of Elliott Bay Design Group, Ltd. (EBDG) a naval architecture and marine engineering firm. EBDG is located in Seattle, Wash., and has recently opened a second office in New Orleans, Louisiana. The financial terms of the investment were not disclosed but are not material to the Company. The new company, Elliott Bay Design Group LLC, will continue to provide naval architecture, marine engineering and production support to its many customers in the commercial marine industry, while providing ACL with capability supporting its transportation and Jeffboat shipyard businesses.
EBDG was formed in 1987 and has grown to more than 60 architects, engineers, designers, and support personnel. Over the last 20 years, EBDG has established itself as an industry leader and an innovative company offering state of the art engineering services backed by extensive experience in vessel design, shipyard level engineering, production planning and quality control.
The transaction is expected to close in the 4th Quarter of 2007.