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WORKBOAT REPAIR “Hogan estimates the project required 150,000 lbs of new steel. When the project started the price of steel was relatively low. TPG decided to purchase all of the steel plate required at the start of the project, which turned out to be a smart move: Hogan said the price of steel rose during the entire 14 months of construction.” when a company that TPG has worked with over the years ing a dry dock in New Orleans, for example, even at the decided that its future business plans would shift away right price, presents signi? cant logistics and transportation from dry dock services. (Robinson did not want to identify challenges when a company is located in Chicago.

the company.) The dry dock that company owned at the time then sat unused. TPG stayed interested, and watch-

Chicago Roots, Local Service ful. Robinson said when the owners ? nally decided to sell,

Chicago Dry Dock (CDD) has long had a presence in

TPG was ready to buy. “We didn’t just say yes,” Robinson Chicago, at the Calumet River site. CDD covers about sev- recalled, “we said ‘heck yes!’” en acres, has 1200 feet of sheeted wall, and is located about

The sale took place in December 2015. The dry dock three river miles from Lake Michigan (15 miles or so south was in pretty bad shape, although its equipment appeared of the Loop). The company started operations in 1979, sound. One big advantage: it was close, relatively easy to providing barge cleaning and repair services. Dry dock bring home. Robinson said the company was scouting oth- service was added in 1995. TPG bought CDD in 2014, er purchases but distance quickly becomes an issue; ? nd- changing the name to TPG Chicago Dry Dock.

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