SAAM, a towage services company in the Americas, announced the final closing of the deal to purchase 30% of Intertug’s companies operating in Colombia and Mexico, giving it 100% ownership of those subsidiaries.
Announced last October, the transaction – an investment of US$30.5m – was reportedly finalized after meeting the stipulated deadlines and obtaining the necessary regulatory approvals.
SAAM states that it acquired a stake in Intertug in 2021 with an initial purchase of 70%, a move that marked its entry into the Colombian market and complemented its presence in Mexico.
Through its towage division, SAAM Towage, the company currently operates one of the world’s largest towage networks, with a fleet of over 200 tugboats serving more than 90 ports across the Americas.
Each year, these vessels conduct more than 155,000 maneuvers, providing support to various types of ships (container ships, oil tankers, bulk carriers, Ro-Ro vessels and LNG carriers), in addition to providing specialized services for offshore exploration and at natural gas terminals.
“This is a key step in our growth strategy for 2030. By closing this deal, we are consolidating our leadership in the region. Our goal is to expand our geographic presence through an efficient, flexible and sustainable operating model that stands out for its excellence in an industry critical to global trade,” said Hernán Gómez, chief executive officer of SAAM.
