Memphis, Tenn., headquartered Southern Towing Company (STC) reports that it has acquired Sulphur, La., headquartered Devall Towing from the Devall family.
Founded in 1952, Devall is a towboat and barge operator for specialty chemicals along the Gulf Intracoastal Waterway and Lower Mississippi River. It operates a fleet of 36 towboats and 125 liquid tank barges and will continue to operate under the Devall brand as a new division of STC.
Southern Towing, an affiliate of CC Industries, the Chicago-based holding company for the Crown family’s privately-held companies, is one of America’s largest transporters of liquid fertilizer and other products. Founded in 1958, it operates a fleet of 27 towboats and 72 barges.
The acquisition expands STC’s operations into specialty chemical products. The combination of Devall’s long-standing customer relationships with STC’s upriver capabilities allows Devall and STC to provide integrated marine transportation solutions across the Gulf Intracoastal and U.S. inland waterways.
“The acquisition significantly enhances Southern Towing’s Gulf Coast capabilities,” said STC’s CEO Ed Grimm. “We look forward to growing our transportation capabilities, while continuing to provide superior service to the customers we are privileged to serve.”
“The Devall family and team are excited to partner with both Southern Towing and CCI,” said Kenny Devall, COO of Devall, who will continue to lead the Company. “ We believe that the cross-selling opportunities with Southern Towing are extremely compelling, and that CCI’s extensive experience and resources positions Devall for future growth.”
Bill Crown, President and CEO of CCI, said: “Devall shares the same core values and vision that we have at STC and CCI. We look forward to building on those shared values to further invest in and grow Devall and STC.”