Posted on April 5, 2022
Luhr Bros is a third-generation family-owned business and Bertucci is a 145-year-old subsidiary of Crosby Enterprises.
Luhr Crosby will be one of the largest marine rock contractors in the United States. It will have placement capacity and marine assets on every major river system of the Mississippi Valley, Gulf Coast, Great Lakes, and East Coast.
It will operate 28 push boats, 400 barges, and a variety of heavy construction equipment. The marine fleet includes several 7,200 bhp line boats, inland deck and hopper barges, spud barges, and ABS deck barges. The construction fleet includes dump trucks, draglines, bulldozers, scrapers, and some of the largest excavators in the world.
Luhr Crosby will be headquartered in Columbia, Ill., and will retain all employees of Luhr Bros and Bertucci. It will also continue to operate the Louisiana rock yards in Alexandria, Port Allen, and Lafayette.
The Luhr Crosby fleet will have the ability to move over 7 million tons of limestone annually. The company will employ 400 people.
Boutique mergers and acquisitions and capital markets advisory investment bank RJM & Company, LLC (RJM) served as the exclusive investment banker to Crosby Enterprises.T he transaction was led by RJM managing partner Rick Moyer and was completed on December 1, 2021.
Luhr Crosby will have placement capacity and marine assets on every major river system of the Mississippi Valley, Gulf Coast, Great Lakes, and East Coast.