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Capstone Headwaters, a premier international middle market investment bank, advised TPG Mt Vernon Marine LLC (“TPG” or the “Company”) on the leasing of its operating assets to American River Transportation Company (“ARTCO”), a subsidiary of Archer Daniels Midland Company (NYSE:ADM).  Terms of the deal were not disclosed.

TPG is a logistics and consulting company that specializes in all aspects of cargo movement, harbor services, stevedoring and vessel repair, operating on the Ohio River and the Great Lakes from key strategic locations.  TPG owns and controls key fleeting points near several significant river terminals and ports, supported further by the Company’s longstanding reputation for delivering timely, safe and efficient services.

Archer Daniels Midland Company (ADM) is one of the world’s largest agricultural processors and food ingredient providers, serving customers in nearly 200 countries. With a global value chain and the world’s premier crop transportation network, ADM makes products for food, animal feed, industrial and energy uses.

ADM Logistics is a third-party logistics provider with access to one of the most far-reaching transportation networks in the world.  American River Transportation Company (ARTCO) is a wholly owned subsidiary of ADM.  ARTCO operations include line-haul vessels, harbor boats, covered hopper barges, tank barges, harbor and fleeting services, and a full service shipyard.  These assets allow ARTCO to deliver products to their final destination in a safe and efficient manner.  ARTCO also provides a third -party towing service on the Lower Mississippi, Upper Mississippi, Illinois, and Ohio River. 

Daniel B. Altman, CEO of TPG Marine Enterprises LLC, said 

“We selected Capstone Headwaters as our advisors based on their prior marine experience and sector knowledge. Having them at our side and ready to go to market when ADM pre-emptively approached our company positioned us for a successful deal negotiation.”  

Burke Smith, managing director and head of Transportation & Logistics at Capstone Headwaters, commented 

“What a pleasure to represent the principals of TPG. This transaction is a real testament to the highly defensible market position of the TPG business, and the vision and commitment of Dan Altman and his partner Don Miller, who acquired and expanded TPG into an undeniable regional market leader over a relatively short 12-year period.”