TPG’s Founders Acquire 100% Ownership

October 23, 2017

TPG Marine Enterprises, LLC, an Indiana based maritime logistics company announced today that at the end of September it purchased 100% ownership of its primary operating company, TPG Mt. Vernon Marine, LLC. TPG Mt. Vernon Marine provides harbor services on the lower Ohio River under the names of Mt. Vernon Barge Service, Green River Barge Service and MVBS Jeffersonville, LLC. It also owns TPG Chicago Dry Dock, LLC, located on the Calumet River.

Prior to the purchase, TPG Marine Enterprises held majority ownership of TPG Mt. Vernon Marine and Platte River Equity, a Denver based equity fund, owned the remaining minority interest. Daniel B. Altman, CEO of the TPG entities stated that: “We are grateful to Platte River Equity for helping us grow our company over the past 5 years so we could buy out its minority interest using only bank financing; this buyout is truly an historic event and one that finally gives the founders complete independence.”

The founders are Mr. Altman and his partner, Don W. Miller, Jr., President of the TPG entities. Mr. Miller commented that: “We have built a solid company and are excited about several future opportunities that will enable our business to continue to grow.” Both Altman and Miller acknowledged they have assembled a superb team to help them run the TPG companies, and that none of their success would be possible without them. “You are only as good as those you surround yourself with,” echoed both Miller and Altman.

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