Maritime Partners LLC has been named Marine Money's 2021 "Preferred Equity Deal of the Year."
Marine Money evaluated a number of outstanding transactions, before ultimately choosing Metairie, La.-based Maritime Partners for a deal they considered "artful."
"Marine Money's Deal of the Year awards recognize the global bankers, financial advisors, and legal teams who execute transactions that we believe are exceptional," said Marine Money President Matt McCleery. "Our criteria for selection include value creation for stakeholders, creativity, overcoming execution challenges and innovation."
In what market experts consider "the first of its kind," the "triple-handed transaction" included Maritime Partners, e1 Marine, and Ardmore Shipping for the issuance of $40 Million 8.5% Series A Perpetual Preferred Shares.
"From groundbreaking sustainability linked loans to transformative acquisitions to creative business combinations to wildly successful capital markets offerings, we had an amazing slate of nominated transactions to consider," said Marine Money Editor George Weltman.
Founded in 2015, Maritime Partners describes itself as a leader in maritime financing solutions serving the domestic Jones Act trade and beyond. The company has a fleet of over 1,600 vessels comprised of state-of-the-art pushboats, towboats, and a variety of barges including covered, and tank barges.
Marine Money's Deal of the Year Awards will be acknowledged at Marine Money Week at The Pierre Hotel in New York City, June 21-23, 2022.
