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Tuesday, May 28, 2024
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BOLUDA TOWAGE ACQUIRES SMS TOWAGE

Maritime Activity Reports, Inc.

MarineLink May 24, 2024

(Photo: Boluda Towage)

Boluda Towage announced it has reached a deal to acquire British company SMS
Towage Ltd.

The acquisition involves taking over the harbor and offshore towage services and
marine operations, together with the management, office staff, crew, and fleet,
based in the United Kingdom. SMS is presently operating in the U.K.
ports/regions of, Tyne, Tees, Humber, Portsmouth, South Wales and Belfast with a
fleet of 20 tugs.  

According to family-owned Boluda Towage, the addition of SMS will strengthen its
position in the U.K., having already established operations in the ports of
Invergordon (Cromarty Firth), London, Liverpool, and Southampton.

Vicente Boluda Fos, Chairman at Boluda Corporación Marítima, stated that "to
continue being leaders in the international maritime towing sector, our company
needs to expand its scope of operations and we are proud that a professional
company like SMS Towage wants to be part of our Group.”

After the official closing of the transaction, SMS will be part of Boluda
Towage’s organization in the United Kingdom, and the new brand name will be
Boluda Towage SMS. The local management team of Boluda Towage SMS will report to
Philip Dulson, General Manager of Boluda Towage in the UK.  

SMS Towage owner Paul Escreet said, “The decision for us to accept the
opportunity to sell SMS Towage to Boluda Towage came at just the right time, as
we embark on a new chapter of business growth and development. I want to express
my heartfelt gratitude to the entire team for their unwavering dedication and
hard work while working within SMS Towage. You have been the backbone of our
success, and I am confident that under Boluda's ownership, SMS Towage will
continue to thrive. My best wishes go out to each one of you as you embrace this
exciting transition.”

Vice President executive Boluda Towage, Vicente Boluda Ceballos, said, “The
strong local team, with highly engaged colleagues, will bring a lot of
experience and expertise to our company. Having exciting times ahead of us we
certainly intend to deploy SMS Towage’s professional crews and experienced
employees on future projects.”

(Photo: Boluda Towage)


Mergers & Acquisitions • Tugs • Towage


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