Alvarez & Marsal North America served as restructuring advisor to American Commercial Barge Line, successor to American Commercial Line, which successfully completed its recapitalization and emerged from Chapter 11. Milbank served as the company’s legal counsel and Greenhill & Co. served as its financial advisor.

American Commercial Barge Line has $200 million in new equity capital and reduced its funded debt by approximately $1 billion.

“Today is … an important day for our company, our team members, our customers and our business partners,” Mark Knoy, president and CEO of American Commercial Barge Line, said. “Having quickly completed our recapitalization, we are a stronger company with the financial flexibility to build on our decades-long legacy of industry leadership. Looking ahead, we will be able to devote our available resources to competing in today’s market. We look forward to continuing to provide the safest, most cost-effective and environmentally friendly barge transportation solutions for many years to come.

“On behalf of all of us at ACBL, I’d like to thank our customers, vendors and other business partners for their support throughout this process. I am also deeply grateful to our dedicated teammates for their hard work and unwavering commitment to working safely. They will continue to be the ultimate drivers of our success as we continue meeting the evolving needs of our customers.”