The Spanish headquartered and worldwide operating Boluda Towage has on Friday signed an agreement with the UK based SMS Towage Ltd. for the acquisition of the company.
The acquisition involves taking over the harbour & offshore towage services and marine operations, together with the management, office staff, crew, and fleet, based in the United Kingdom.
SMS Towage Ltd is operating in the UK since 1992, first as a ship management company and since 2002 as a towage operator, with SMS emerging as a major player in the UK towage market.
Currently, the company is operating in the UK ports/regions of, Tyne, Tees, Humber, Portsmouth, South Wales, and Belfast with a fleet of 20 tugs.
The addition of SMS will strengthen the position of Boluda Towage, already operating in the ports of Invergordon (Cromarty Firth), London, Liverpool, and Southampton, as a global operator in towage and sustainable maritime services, with a broader scope in the UK. The geographical footprint of both Boluda Towage UK and SMS Towage is complementary.
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 Escreetc commented on the sale: “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.”
Chairman at Boluda Corporación Marítima, Vicente Boluda Fos, said: “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”.
He also added that “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”.
Source: Boluda Towage
