Ingram Barge to Acquire Cheryl K and San Jacinto River Fleet
Nashville-based Ingram Barge Company announced Tuesday that its wholly-owned subsidiary Houston Fleeting Services has reached a deal to acquire the business assets Houston-based Cheryl K and San Jacinto River Fleet.
According to Ingram Barge, the purchase allows it to expand its footprint into the Houston area and along the Texas Gulf Coast while simultaneously growing its logistics, dry barge and liquid barge businesses by adding critical infrastructure, vessels and personnel. The transaction is expected to close by the end of November.
“Cheryl K and its San Jacinto River Fleet have long been trusted players in Houston. Their track record of success alongside similar family values of our two companies make them a great addition to our team,” said David O’Loughlin, Ingram Barge president & CEO. “This acquisition positions us very well for continued strength and growth for the long-term.”
Cheryl K is a marine transportation company serving the Gulf Coast region, and San Jacinto River Fleet is one of the largest single fleeting facilities in the Houston area.
Ingram Barge, which is among the leading carriers on America's inland waterways as operator of a fleet of approximately 125 towboats and 4,500 barges, said it plans to operate the assets in Houston, by integrating personnel and operations into the larger Ingram Barge business.
“This is a great strategic move for our company and our customers,” said John Roberts, Ingram Barge COO. “The capabilities this opens up for us will really allow us to control our future in a meaningful way for our existing and future customers.”
Earl Thrift, Jr., president of Cheryl K and San Jacinto River Fleet, said, “The words family and team say it all. The Cheryl K LLC and San Jacinto River Fleet employees have been a tight knit team and are looking forward to becoming part of the Ingram family. This will be a great fit for our group and team to progress to the next level.”