Bay-Houston Towing Announces Purchase of Port Arthur and Lake Charles Operations From Seabulk
Bay-Houston Towing Announces Purchase of Port Arthur and Lake Charles Operations From Seabulk
HOUSTON--(BUSINESS WIRE)--Bay-Houston Towing Co. (“Bay- Houston”), a Houston-based provider of harbor tug services, announced today the signing of a definitive agreement to purchase Seabulk Towing Services, Inc. (“STS”) from Seabulk Towing Holdings Inc. (“Seabulk”), a subsidiary of Seacor Holdings Inc. Upon closing of the transaction, Bay-Houston will acquire all of Seabulk’s operations in Port Arthur, Texas, and Lake Charles, Louisiana.
The transaction includes eight harbor towing vessels. After closing, STS will be renamed Bay Towing, LLC.
“We have admired Seabulk for many years, and Bay-Houston is delighted to expand its operations to two important, high-growth ports. We look forward to providing our customers with a smooth transition and long-term investment to support their growth in these ports,” said Philip Kuebler, President and Chief Executive Officer of Bay-Houston.
“Bay-Houston is an industry leader 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 a long-term home, but strong corporate values, like our own.”
Winston & Strawn LLP acted as legal adviser to Bay-Houston.
About Bay-Houston Towing Co.
Bay-Houston has been assisting ships calling ports along the Texas Gulf Coast since the late 1800s. The acquisition will increase the company’s fleet to 34 tugboats.
For additional information, please visit our website www.bayhouston.com or contact comms@bayhouston.com.
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