NOVA Infrastructure, a middle-market infrastructure private equity firm, has announced the exit of Bold Holdco (Bold Ocean) to institutional investors advised by J.P. Morgan Global Alternatives’ Global Transportation Group. Financial terms of the transaction were not disclosed.
Headquartered in Annapolis, Md., Bold Ocean/Schuyler Line Navigation Co. is a U.S. Flag operator serving the critical transportation and logistics needs of numerous U.S. government agencies. The company operates nine vessels that transport essential government supplies, fuel, humanitarian food aid and other goods under long-term time charter with the U.S. government, as well as parcel contracts with highly rated counterparties, providing significant revenue stability and downside protection for the business.
“NOVA is honored to have supported the company during its transformative years of growth, and we are incredibly proud of the Bold Ocean team for building a market-leading business,” sa
