Posted on April 11, 2025
By Heiko Osterchrist
The Dutra Group structured with The Key Equipment and Wintrust Commercial Finance a secured senior debt secured financing to support the refinancing of its existing vessels and the finance of the construction of its new, to be built, Trailing suction hopper dredge, the Adele. With this investment, The Dutra Group joins other top dredge contractors in modernizing their fleets and equipment to play an important role in improving U.S. ports, waterways and shipping lanes.
Key Equipment Finance served as joint lead arranger, lender and administrative agent, while Wintrust acted as joint lead arranger and lender. Six additional investors participated in the credit agreement, which included a shared collateral pool of vessels regulated under the U.S. Jones Act.
The Dutra Group, based in San Rafael, Calif., is a family-owned company specializing in heavy marine construction through its dredging, construction and materials divisions. The firm has operated for more than 50 years and is known for handling large-scale infrastructure projects across the country.
