Trive Capital, McCombs Partners Latch on to Southern Towing
October 25, 2012
PE firm Trive Capital and McCombs Partners have acquired inland waterway barge operator Southern Towing Company. A $90 million senior secured debt facility for the transaction was led by PNC Bank. Southern Towing serves a niche of fertilizer and specialty transport. Dallas-based Trive Capital acquires under-resourced middle-market companies, and McCombs Partners is the investment division for the San Antonio-based McCombs family.