BNET Industries
Market Cap:$210.3M
Last Fiscal Year Sales:$326.2M
- Public
- US
Dow Jones Description
We are a Delaware limited partnership formed in December 2007, and our cash generating assets consist solely of partnership interests in K-Sea Transportation Partners L.P. (NYSE: KSP). KSP is a publicly traded Delaware limited partnership that provides marine transportation, distribution and logistics services for refined petroleum products in the United States. KSP currently operates a fleet of 73 tank barges, one tanker and 59 tugboats that serves a wide range of customers, including major oil companies, oil traders and refiners. With approximately 4.3 million barrels of capacity, KSP believes it owns and operates the largest coastwise tank barge fleet in the United States.
COO & President, Altantic Region
Thomas M. SullivanNumber of Employees 1,044
Contact Information
1 Tower Center Blvd 17th Fl
East Brunswick, New Jersey 08816-1145
(732) 339-6100
Peer Companies
NAICS Code Marine Cargo Handling: 488320
Recent Events
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Raymond James Downgrades K-Sea Transportation Partners KSP to Underperform
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Unusual 11 Mid-Day Movers 10/29: GIGA, REV, GKK, TBL Higher; TSPT, CPF, KSP, CYTK Lower
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K-Sea Transportation Partners L.P. Announces Operating Results and $0.45 Quarterly Distribution for First Quarter of...
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K-Sea Transportation Partners L.P. Announces Operating Results for Fourth Quarter of Fiscal 2009; Maintains $0.77...
Decision Makers
| Name (plus bio) | Position |
|---|---|
| Thomas M. Sullivan | COO & President, Altantic Region |
| Rick Falcinelli | Executive Vice President and Secretary |
| Anthony S. Abbate | Senior Vice President |
| Charles Kauffman | Vice President, Corp Development |
| Gregory Haslinsky | Vice President, Sales and Marketing |
| Haslinsky Gregory | Vice President of Sales and Marketing of Ksp Gp |
| Kauffman Charles | Vice President Corporate Development |
| Richard P Falcinell | Vice President, Administration and Secretary |
| Friedman Brian | Beneficial Owner |
| Barry J. Alperin | Director of Ksp Gp |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| James J. Dowling | Chairman of the Board |
| Brian P. Friedman | Board of Directors |
| Frank Salerno | Board of Directors |
| John J. Nicola | Board of Directors |
| Timothy J Casey | Board of Directors |
Thomas M. Sullivan has served as our Vice President of Operations since July 2003. Mr. Sullivan has served as Vice President of Operations of EW Transportation LLC (formerly K-Sea Transportation LLC) since April 1999. Mr. Sullivan also served as Vessel Supervisor for EW Transportation LLC's predecessor from March 1995 until April 1999. Mr. Sullivan joined EW Transportation LLC's predecessor in 1988, initially as a Mate aboard its tank vessels and eventually as a Captain on many of its vessels.
| Organization | Position | Status |
|---|---|---|
| K-Sea Transportation Partners L.P. | COO & President, Altantic Region | Current |
| K-Sea Transportation Partners L.P. | Board of Directors | Current |
| K-Sea Transportation Partners L.P. | Vice President, Operations | Current |
Richard P. Falcinelli has served as our Vice President of Administration since July 2003. Mr. Falcinelli has served as Vice President of Administration of K-Sea Transportation LLC since April 1999. Mr. Falcinelli joined K-Sea Transportation LLC's predecessor in January 1991, initially serving as Mate and Relief Master aboard our tank vessels. He was promoted to the position of Safety and Training Coordinator in December 1991, and assumed responsibility for developing and implementing safety policies and practices throughout the fleet. Prior to joining K-Sea Transportation LLC, Mr. Falcinelli was employed as a Connecticut River Pilot from 1988-1991.
| Organization | Position | Status |
|---|---|---|
| K-Sea Transportation Partners L.P. | Executive Vice President and Secretary | Current |
| K-Sea Transportation Partners L.P. | Vice President of Administration and Secretary | Current |
Mr. Abbate is President and Chief Executive Officer of Interchange Financial Services Corporation, the holding company for Interchange Bank, and has held that position since 1981. Prior to 1981, he served as Senior Vice President ...
| Organization | Position | Status |
|---|---|---|
| Interchange Financial Services Corporation | President and Chief Executive Officer | Current |
| Interchange Bank | Chief Executive Officer | Current |
| Interchange Bank | President | Current |
| K-Sea Transportation Partners L.P. | Senior Vice President | Current |
| Sea Coast Transportation | Director | Current |
| K-Sea Transportation Partners L.P. | Director | Current |
| Home State Bank | President | Former |
| Orbisonia Community Bancorp Inc. | Vice President | Former |
| Interchange Corporation | Controller | Former |
| Commercial Bank | Former | |
| Orbisonia Community Bancorp Inc. | Treasurer | Former |
Charles Kauffman has served as our Vice President, Corporate Development since the acquisition of Sea Coast Transportation in October 2005. Mr. Kauffman was employed from February 1984 to October 2005 by Saltchuk Resources Inc., a privately held maritime company, where he held various senior management positions, including President of Sea Coast Transportation since July 2002.
| Organization | Position | Status |
|---|---|---|
| K-Sea Transportation Partners L.P. | Vice President, Corp Development | Current |
Gregory J. Haslinsky has served as our Vice President, Sales and Marketing since October 2005 and has been employed by K-Sea Transportation since December 1999 in various sales capacities. Mr. Haslinsky was employed from November 1988 to November 1999 by Maritrans, a marine transportation company, holding various sales and marketing positions within the organization.
| Organization | Position | Status |
|---|---|---|
| K-Sea Transportation Partners L.P. | Vice President, Sales and Marketing | Current |
| Organization | Position | Status |
|---|---|---|
| K-Sea Transportation Partners L.P. | Vice President of Sales and Marketing of Ksp Gp | Current |
| Organization | Position | Status |
|---|---|---|
| K-Sea Transportation Partners L.P. | Vice President Corporate Development | Current |
Richard P. Falcinelli has served as our Vice President of Administration since July 2003. Mr. Falcinelli has served as Vice President of Administration and Secretary of EW Transportation LLC (formerly K-Sea Transportation LLC) since April 1999. From December 1993 to April 1999, Mr. Falcinelli was Risk Manager for EW Transportation LLC's predecessor. Mr. Falcinelli joined EW Transportation LLC's predecessor in January 1991, initially serving as Mate and Relief Master aboard its tank vessels. Mr. Falcinelli was promoted to the position of Safety and Training Coordinator in December 1991, and assumed responsibility for developing and implementing safety policies and practices throughout the fleet. Prior to joining EW Transportation LLC's predecessor, Mr. Falcinelli was employed as a Connecticut River Pilot from 1988-1991.
| Organization | Position | Status |
|---|---|---|
| K-Sea Transportation Partners L.P. | Vice President, Administration and Secretary | Current |
| Organization | Position | Status |
|---|---|---|
| Jefferies Capital Partners | President | Current |
| K-Sea Transportation Partners L.P. | Beneficial Owner | Current |
| Sea Coast Transportation | Director | Current |
| Telex Communications, Inc. | Director | Current |
| Jefferies Group, Inc. | Director | Current |
| K-Sea Transportation Partners L.P. | Director | Current |
| Jefferies Capital Partners | Managing Member | Current |
Mr. Alperin is a business consultant who retired from Hasbro Inc. in 1996 after 11 years in various senior executive positions, including Vice Chairman and Director. Mr. Alperin is currently on the board of Henry Schein, Inc., K'NEX Industries, Inc. and The Hain Celestial Group Inc. Mr. Alperin practiced securities law in New York City from 1966 to 1985, finishing his legal career with the law firm of Fenwick & West, where he was a managing partner. Mr. Alperin is Chairman of the Audit Committee.
| Organization | Position | Status |
|---|---|---|
| K-Sea Transportation Partners L.P. | Director of Ksp Gp | Current |
| Henry Schein, Inc. | Chairman | Current |
| The Hain Celestial Group, Inc. | Board of Directors | Current |
| Sea Coast Transportation | Director | Current |
| Hasbro, Inc. | Co-Chief Operating Officer | Former |
| Hasbro, Inc. | Executive Vice President | Former |
| Hasbro, Inc. | Vice Chairman and Director | Former |
| Hasbro, Inc. | Senior Executive | Former |
| Henry Schein, Inc. | Director | Current |
James J. Dowling has served as our Chairman of the Board since July 2003, has served as Chairman of the Board of EW Transportation LLC (formerly K-Sea Transportation LLC) since January 2002 and has served as a director of EW Transportation LLC since its formation in April 1999. Mr. Dowling has been a Managing Director of Jefferies Capital Partners, a private investment firm, since January 2002, and is a director of various private companies in which Jefferies Capital Partners has an interest. Jefferies Capital Partners is the manager of Furman Selz Investors II L.P. and its affiliated entities, principal owners of our general partner.
| Organization | Position | Status |
|---|---|---|
| Jefferies Capital Partners | Managing Director | Current |
| Sea Coast Transportation | Chairman of the Board | Current |
| K-Sea Transportation Partners L.P. | Chairman of the Board | Current |
| Jefferies LLC | Senior Advisor | Former |
| Jefferies Capital Partners | Senior Advisor | Current |
| Organization | Position | Status |
|---|---|---|
| Jefferies Capital Partners | President | Current |
| Beacon Power Corporation | Current | |
| Jefferies LLC | Chairman | Current |
| Jefferies Group, Inc. | Board of Directors | Current |
| K-Sea Transportation Partners L.P. | Board of Directors | Current |
| Jefferies Capital Partners | Board of Directors | Current |
| Jefferies Capital Partners | Managing Member | Current |
| Real Mex Restaurants, Inc. | Member | Current |
| K-Sea Transportation Partners L.P. | Member | Current |
| Telex Communications, Inc. | Chairman | Former |
| Columbia University | J.D. | Former |
| Furman Selz | member | Former |
Mr. Salerno has been in the investment business for approximately 23 years. From mid-1999 until his retirement in February 2004, Mr. Salerno was Managing Director and Chief Operating Officer of Merrill Lynch Investment Advisors--Americas Institutional Division. Previously, he served as Managing Director and Chief Investment Officer of Merrill Lynch Quantitative Advisors. From 1981 through mid-1999, Mr. Salerno served in various capacities at Bankers Trust Company, with his last position being Managing Director and Chief Investment Officer--Structured Investment Management.
| Organization | Position | Status |
|---|---|---|
| K-Sea Transportation Partners L.P. | Board of Directors | Current |
John J. Nicola has served as our Chief Financial Officer since July 2003. Mr. Nicola has served as Chief Financial Officer of EW Transportation LLC (formerly K-Sea Transportation LLC) since July 2000. Mr. Nicola was employed from November 1993 to July 2000 by Maersk Sealand in several senior financial management roles, including Chief Financial Officer of Maersk's East Coast and Gulf terminal operating subsidiary. Previously, Mr. Nicola was employed for 12 years by Price Waterhouse as an auditor and business consultant. Mr. Nicola is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants.
| Organization | Position | Status |
|---|---|---|
| American Institute of Certified Public Accountants | Board of Directors | Current |
| K-Sea Transportation Partners L.P. | Board of Directors | Current |
| American Institute of Certified Public Accountants | Member | Current |
| K-Sea Transportation Partners L.P. | Chief Financial Officer | Current |
Timothy J. Casey has served as our President, Chief Executive Officer and Director since July 2003. Mr. Casey has served as President, Chief Executive Officer and Director of EW Transportation LLC since April 1999. Mr. Casey is also a Vice Chairman for American Waterways Operators, a board member of The Seamen's Church Institute and a member of the American Bureau of Shipping.
| Organization | Position | Status |
|---|---|---|
| Seamen's Church Institute | Board Member | Current |
| The American Waterways Operators | Board Member | Current |
| K-Sea Transportation Partners L.P. | Board of Directors | Current |
| The American Waterways Operators | Vice Chairman | Current |
| The State University of New York | Master of Science In Transportation | Former |
| Texas A&M University | Bachelors of Arts In Business Administration, Finance | Former |
| K-Sea Transportation Partners L.P. | President, Chief Executive Officer and Director | Current |
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