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The company was founded in April 2012 by former Morgan Stanley investment bankers Kevin Marchetti and Adam Forste, who formed Bay Grove Capital, LLC, through the consolidation of acquired warehousing and logistics companies beginning, in December 2008, with the purchase of Seafreeze from Toyo Susian Kaisha. [10]
The Pacific Harbor Line (reporting mark PHL) was formed in 1998 to take over the Harbor Belt Line (HBL). In 1998, the Alameda Corridor was nearing completion, allowing for a massive amount of railroad traffic from the largest harbors in the Western hemisphere: Port of Los Angeles and Port of Long Beach .
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The company, first known as Trinity Steel, was founded by C. J. Bender in Dallas in 1933. W. Ray Wallace, an engineering graduate of Louisiana Tech, worked for Dallas's Austin Bridge Company in 1944 before joining the company in 1946 as its seventeenth employee. At the time Trinity Steel manufactured butane tanks in a Dallas County mule barn.
These tracks now belong to Indiana Harbor Belt Railroad, and are overgrown stub tracks ending short of the interchange. Some trackage around the Indiana Harbor Belt's Gibson Yard has also been removed. The MC's South Water Street freight trackage in downtown Chicago is also gone.
In 1958, the company's president, Arthur B. Homer, was the highest-paid U.S. business executive, and the firm built the first phase of what would become its largest plant, Burns Harbor between 1962 and 1964 in Burns Harbor, Indiana. Aerial view of the world's first 160" Plate Mill at Bethlehem Steel's Burns Harbor plant circa 1964.