Jones Day has represented Stewart & Stevenson LLC, a subsidiary of the Houston-based Parman Capital Group, in the sale of substantially all of its assets and businesses to Kirby Corporation for $710 million.
Stewart & Stevenson, based in Houston, Texas, is a leading global manufacturer and distributor of products and services for the oil and gas, marine, construction, power generation, transportation, mining and agricultural industries.
The transaction signed on June 13, 2017 and is expected to close in the third quarter of 2017.
Kirby Corporation, based in Houston, Texas, is the nation’s largest domestic tank barge operator transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts, and in Alaska and Hawaii. Kirby transports petrochemicals, black oil, refined petroleum products and agricultural chemicals by tank barge. Kirby also operates offshore dry-bulk barge and tugboat units engaged in the offshore transportation of dry-bulk cargoes in the United States coastal trade.
Jones day has advised Stewart & Stevenson LLC on the deal with a team led by partners John Kane (picture) and Dickson Chin.
Law Firms: Jones Day;
Clients: Stewart & Stevenson LLC;