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Tonkon Torp Helps Tidewater Holdings, Inc. Secure New Equity Investor

Tonkon Torp has been a trusted advisor to Vancouver, Washington-headquartered Tidewater Holdings for almost a decade. So, when the region’s premier inland transportation and terminal company sought a new equity investment partner, Tidewater relied on the expertise of Tonkon Torp’s corporate finance team to bring a deal to fruition.

With deep knowledge and understanding of the company’s operations, long-term goals and corporate culture, attorneys David Forman, Jeff Woodcox, and Kurt Ruttum helped to strategically position Tidewater for a sale and to structure, negotiate, document and close the sale by Portland based Endeavour Capital to Stonepeak Infrastructure Partners in December 2012. Stonepeak is a New York-based middle-market infrastructure investment firm with a focus on power, renewable energy, utilities, transportation and water. Under Stonepeak's ownership, Tidewater Holdings will continue to operate its two subsidiaries, Tidewater Barge Lines, Inc., and Tidewater Terminal Co.  

Founded in 1932, privately owned Tidewater has evolved from a barge line primarily handling wheat into a multi-commodity transportation and terminal company serving the transportation needs of the Pacific Northwest. It was a closely held company until 1996, when David Forman advised Sterling Investment Partners, a Connecticut based private equity firm, in its acquisition of the operating companies. David and his colleagues subsequently advised Sterling on its sale of Tidewater to Endeavour Capital and have continued to work closely with Tidewater through changes of management, providing strategic counsel on a wide range of business matters.

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