CenterGate Capital, the Austin-based private equity investment firm, announces that its affiliate has made an investment in Poseidon Barge, a leading sectional barge manufacturer and rental provider supporting critical marine infrastructure throughout North America.
Established in 1986 and headquartered in Berne, Indiana, with eight additional satellite distribution yards throughout the United States, Poseidon specializes in the sale and rental of equipment for the marine infrastructure market. Poseidon manufactures, sells, and rents Poseidon-branded sectional barges and accessories to support essential marine infrastructure including bridge rehabilitation, dam maintenance, waterway dredging, and various other critical applications. Poseidon offers a broad assortment of sizes and configurations of sectional barges to serve its customers’ needs. In addition, Poseidon offers a wide range of customization capabilities and one of the largest sectional barge rental fleets in the country.
Poseidon’s President, Mary Habegger-Fox, will continue to lead Poseidon. Ms. Fox comments, “We are excited about our partnership with CenterGate and the continuity and security it provides for our employees, customers, and vendors. The partnership with CenterGate provides us with the capital and strategic resources to continue to grow our company and capabilities while maintaining our focus on best-in-class customer service and market-leading innovation.”
Poseidon Founder Donnie Fain notes, “Since our inception, we have been focused on delivering a superior product through innovation and customer service. We have chosen a partner that understands these keys to our success and is committed to helping us maintain and continue to grow our strong customer experience.”
As a part of this transaction, Donnie Fain and Mary Habegger-Fox will both have a continued ownership position in Poseidon.
Michael Smith, managing director at CenterGate Capital, adds, “Donnie, Mary, and the entire Poseidon team have built an impressive organization. We are excited to partner with Poseidon to help them continue their growth and execute on our shared vision for the future.”
Poseidon is a leading provider of sectional barges and related equipment for marine infrastructure construction. The company designs, manufactures, sells, and rents a wide range of Poseidon-branded sectional barges and accessories. Headquartered in Berne, Indiana, Poseidon operates throughout North America with additional satellite distribution yards in California, Texas, Wisconsin, Missouri, Louisiana, New York, North Carolina, and Florida. For more, visit www.poseidonbarge.com.
ABOUT CENTERGATE CAPITAL
CenterGate Capital is an Austin, Texas-based private equity firm focused on partnering with lower middle market companies with the potential to achieve transformational growth through operational and strategic development. CenterGate brings a balance of financial and operational experience and strategic insight to assist management in driving long-term sustainable growth. For more, visit www.centergatecapital.com.