Upper Bay’s Acquisition of Tidewater Transportation & Terminals


Bracewell LLP served as lead legal advisor for Upper Bay. Evercore acted as financial advisor to Stonepeak, and Tonkon Torp LLP acted as lead legal advisor. Transaction terms were not disclosed.

Upper Bay Infrastructure Partners (“Upper Bay”), Ullico, funds and accounts under management by BlackRock, Silverfern, and certain other co-investors (collectively, the “Investor Group”) are pleased to announce that they have acquired Tidewater Transportation & Terminals (“Tidewater'”) from Stonepeak Infrastructure Partners (“Stonepeak”).

Tidewater, founded in 1932, has evolved into a multi-commodity transportation and terminal company serving the diverse and evolving transportation needs of the Pacific Northwest. Headquartered in Vancouver, WA, the company’s operating area spans 465 miles on the Columbia and Snake River system extending from the Port of Astoria on the Oregon coast to the inland Port of Lewiston in Idaho. In 2014, Tidewater acquired Vancouver-based West Coast Marine Cleaning, adding industrial cleaning, containment and disposal to their services in the Pacific Northwest. Additionally, Tidewater acquired Island Tug and Barge in 2017. Headquartered in Burnaby, British Columbia, Island Tug and Barge is the West Coast’s largest bulk transporter of refined petroleum products.

Bracewell LLP represented Upper Bay Infrastructure Partners with a team including Hans P. Dyke (Picture), Jason M. Jean, Michele J. Alexander, Rebecca L. Baker, Robert G. Burns, Daniel E. Hemli, Cheri L. Hoff, Jason B. Hutt, Bruce R. Jocz, Steven J. Lorch, Joshua T. McNulty, Whit Swift, Jacqueline R. Java, Derek A. B. Speck, Andrew P. Mintz, David Bartz, Jackie Z. Coleman, Ryan Davis, Ryan M. Eletto, Melanie C. Goebel, Jason W. Keating, Jay N. Larry, Kathryn F. Penry, Kevin R. Tamm, and Kevin M. Voelkel

Involved fees earner: Michele Alexander – Bracewell; Rebecca Baker – Bracewell; David Bartz – Bracewell; Robert Burns – Bracewell; Jackie Coleman – Bracewell; Ryan Davis – Bracewell; Hans Dyke – Bracewell; Melanie Goebel – Bracewell; Daniel Hemli – Bracewell; Cheri Hoff – Bracewell; Jason Hutt – Bracewell; Jacqueline Java – Bracewell; Jason Jean – Bracewell; Bruce Jocz – Bracewell; Jason Keating – Bracewell; Jay Larry – Bracewell; Steven Lorch – Bracewell; Joshua McNulty – Bracewell; Kathryn Penry – Bracewell; Derek Speck – Bracewell; Whit Swift – Bracewell; Kevin Tamm – Bracewell; Kevin Voelkel – Bracewell;

Law Firms: Bracewell;

Clients: Upper Bay Infrastructure Partners;

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Author: Ambrogio Visconti