CC Industries acquire Southern Towing Company
Written by Nick Blenkey
Chicago headquartered CC Industries, Inc. has acquired Southern Towing Company (“STC”) from Trive Capital and McCombs Partners. Founded in 1958, STC is one of the largest operators of towboats and barges along the inland waterways of the United States.
“STC is a remarkable business with a long history of excellence,” said Bill Crown, President and Chief Executive Officer of CCI. “We are delighted to add Southern Towing to the CC Industries family of operating companies.”
Chicago-based CC Industries, Inc. operates within Henry Crown and Company as the holding company for the Crown family’s privately-held companies.
STC will operate as a stand-alone entity and Ed Grimm, President and Chief Executive Officer, along with the entire management team, will continue in their current roles.
“The management team and employees have grown an exceptional business and fostered a culture of safety and outstanding customer service,” said Mr. Crown. “We are excited about STC and dedicated to providing the resources to expand the business and enhance STC’s ability to serve its customers.”
“We are thrilled with our new owners,” said Mr. Grimm. “CCI is an ideal partner to support us for the next phase of STC’s growth. With CCI’s operational and financial expertise, we will continue to focus on STC’s four pillars: Success Through Commitment, Safely Transporting Cargo, Service to Customers, and Supporting The Crew.”
