Greenstreet Equity Partners, a Florida-based private equity firm, was in discussions to acquire TECO Transport (now United Maritime Group), a world-class marine transportation and terminal services business and a subsidiary of Florida-based, NYSE-listed TECO Energy. The two companies signed a definitive agreement in October 2007, hoping to finalize the transaction before the end of the year, Greenstreet chose Jefferies to provide the debt financing because of the Firm's leading market position in maritime investment banking, expertise in lending and ability to execute transactions in an accelerated time frame. Despite market uncertainty, Jefferies Finance provided Greenstreet with a firmly committed first and second lien senior secured loan commitment to support the transaction, and acted as the sole lead arranger and administrative agent for the $340 million financing. The transaction successfully closed within 36 days of commitment, and the speed of execution was a key determinant in acquiring the company at an attractive valuation. The debt financing cleared at the original pricing, without any structure or price flex, despite rapidly deteriorating market conditions. As a result of the transaction, United Maritime, with its new owners and capital structure, is well positioned for growth as a leading domestic provider of marine transportation and terminal services for dry bulk commodities.