Boluda Towage back on the acquisition trail

Written by Nick Blenkey
Two tugboats to be acquired by Boluda Towage

SMS tugs Superman and Manxman are part of the fleet being acquired by Boluda. [Photo: Boluda Towage]

The Boluda Towage division of Madrid headquartered Boluda Corporación continues on the acquisition trail. In February of this year it announced deals to acquire, first, the Gibraltar operations of Fort Lauderdale, Fla., headquartered Resolve Marine, then later that month, Netherlands-headquartered Smit Lamnalco. Last week it reported that it has now signed an agreement that will see it acquire Hessle, U.K., based SMS Towage Ltd.

Under the agreement, family-owned Boluda will take over SMS’s harbor and offshore towage services and marine operations, together with the management, office staff, crew, and 20 tugs.

Boluda is already operating in the ports of Invergordon (Cromarty Firth), London, Liverpool, and Southampton and says thegeographical footprints of Boluda Towage UK and SMS Towage are complementary.

After the deal closes, SMS will be part of Boluda’s organization in the United Kingdom, and the new brand name will be Boluda Towage SMS. The local management team of will report to Philip Dulson, General Manager of Boluda Towage in the U.K.

“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,” said SMS Towage owner Paul Escreet. “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.”

“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,” said Vicente Boluda Fos, chairman at Boluda Corporación Marítima,

Boluda Towage executive VP Vicente Boluda Ceballos, added: “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”.

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