(FORT LAUDERDALE, Fla.) — SEACOR Holdings Inc. on Monday announced the sale of its U.S. harbor towing operations and assets from its Seabulk Towing Holdings subsidiary to two parties, E.N. Bisso & Son and Bay-Houston Towing Co.
The E.N. Bisso transaction includes 12 harbor towing vessels across ports in Florida and Alabama. Bay-Houston is acquiring eight vessels operating in Texas along the Sabine Neches Navigation District and in the Port of Lake Charles, La.
“E.N. Bisso and Bay-Houston are two industry-leading harbor towing providers supported by many decades of safe and reliable operations,” said Eric Fabrikant, chief executive officer of SEACOR Holdings. “They not only offer our people and assets long-term homes, but also ensure the continuation of high-quality service for our customers.”
“Acquiring an industry-leading platform in these markets is exciting for E.N. Bisso and enables us to enhance our services in Florida and expand into Alabama,” said Matt Holzhalb, president and CEO at E.N. Bisso. “Not only are we growing our fleet with the addition of new, differentiated assets like the innovative Advanced Rotortug, but we are thrilled to welcome such high-caliber team members to the E.N. Bisso family.”
“This acquisition expands Bay-Houston’s ability to service our customers across more Texas and Louisiana ports,” said Philip Kuebler, president and CEO at Bay-Houston. “We look forward to providing both existing and new customers with a smooth transition and serving as a valuable partner for years to come.”
Seabulk will continue to own and operate a fleet of tugs and barges in support of its Caribbean terminal and bunkering operations, including the KSM joint venture with partner KOTUG International B.V.
The transaction is expected to close in late 2023, subject to regulatory approval and customary closing conditions.
J.P. Morgan Securities LLC acted as exclusive financial adviser and Milbank LLP acted as legal adviser to SEACOR.