Boluda Towage back on the acquisition trail

The Boluda Towage division of Madrid headquartered Boluda Corporación continues on the acquisition trail. In February of this year it announced deals to acquire, first, the Gibraltar operations of Fort Lauderdale, Fla., headquartered Resolve Marine, then later that month, Netherlands-headquartered Smit Lamnalco. Last week it reported that it has now signed an agreement that will see it acquire Hessle, U.K., based SMS Towage Ltd.

Under the agreement, family-owned Boluda will take over SMS’s...

OSG set to be acquired by Saltchuk

Shares in NYSE-listed U.S.-flag tanker and ATB operator Overseas Shipholding Group Inc. (OSG) were trading up this morning on news that it has entered into a definitive merger agreement that will see it acquired by Saltchuk Resources Inc. Saltchuk first made an offer for OSG in 2021, then made a new offer in January of this year.

Under the terms of the merger agreement, family-owned Saltchuk will commence a tender offer to acquire all outstanding shares of OSG it does not already own for $8.50...

Chouest expands its subsea capabilities with ROVOP acquisition

The Cut Off, La., headquartered Chouest group has acquired Aberdeen, Scotland, headquartered ROVOP, a leading remotely operated vehicle (ROV) company that was previously a portfolio company of Bluewater Private Equity. With the acquisition, Chouest, alongside its subsea service company, C-Innovation, will now control a fleet of over 100 ROVs and 6 autonomous underwater vehicles (AUVs).

Bringing ROVOP under the Chouest umbrella not only expands Chouest’s service offerings but also provides ROVOP...

Austal confirms getting a takeover offer from Hanwha Ocean

Rumors that Australian shipbuilder Austal Limited (ASX:ASB) was the target of a takeover bid have been circulating since last July. Now, it seems, there’s some truth in one of them. In an April 1, ASX stock exchange filing, Austal (which is, of course, the parent of Austal USA) confirmed that it has confirms it received an unsolicited, conditional and non-binding indicative proposal from Korea’s Hanwha Ocean Co., Ltd under which Hanwha would acquire Austal by way of a scheme of arrangement that...

Fairbanks Morse Defense makes new acquisition: AMMCON

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, has acquired AMMCON Corp., a Jacksonville, Fla., based fittings and assembled components manufacturer. This is FMD’s eleventh acquisition since beginning an expansion in December 2020 aimed at serving the maritime defense industry with turnkey solutions

“Fairbanks Morse Defense is working to build fully integrated products and services that will meet every need of maritime defense, and to accomplish this, we...

IMC Logistics acquires California carrier American Pacific Transportation

Memphis, Tennessee-based intermodal logistics provider IMC Logistics has acquired American Pacific Transportation, boosting the company’s drayage truck capacity across California.

“As a result of this acquisition, we will have more than 500 trucks in California, signifying our commitment to our customers in this region,” Joel Henry, IMC’s CEO, said in a news release.

American Pacific Transportation has locations in Calexico, Chino, Commerce, San Diego and Lompoc, California. The carrier has...

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.