Ingram Barge has agreed to acquire U.S. United Barge Line, a company with 17 towboats, almost 650 barges and approximately 300 employees.
The transaction is expected to close in the second quarter. Terms weren’t disclosed.
UBL is based in Tampa and has a major operating office at Metropolis, Ill., near the inland towing hub of Paducah, Ky.
The company was purchased in 2007 by an investor group led by Miami-based Greenstreet Equity Partners from its former parent TECO Energy and has operated in the coal terminaling, inland barge and ocean transportation businesses.
Ingram Barge Company is a subsidiary of privately held Nashville, Tenn.-based Ingram Industries Inc.