Savage Inland Marine LLC, a subsidiary of Savage Cos. of Midvale, has purchased the liquid bulk division assets of Settoon Towing LLC, a waterway transportation company based in Pierre Part, Louisiana. The purchase includes 35 towboats and 63 liquid tank barges with a total capacity of nearly 2 million barrels. The purchase does not include Settoon’s gathering and storage business line.
The acquisition provides Savage with a scalable platform for building its marine business going forward, the company said in a release.
With the addition of these vessels, Savage’s marine capabilities include the transport of a variety of liquid products on the intracoastal and inland waterways, as well as barge fleeting, towing and dock services on the U.S. Gulf Coast. Mike Ellis, Settoon Towing’s former president, had previously joined Savage to lead its Marine Solutions Group and more than 230 former Settoon employees have become Savage employees. Operations management will continue to be based out of a newly built, state-of-the-art operations and training center in Gibson, Louisiana, and at offices in Baton Rouge, Louisiana, and Bridge City, Texas.
Founded in 1946 as a single-truck company hauling cinder blocks to the Uintah Basin, Savage is a privately owned supply-chain solutions and industrial services company with more than 3,500 employees in over 240 operating locations throughout North America and internationally.
“Acquiring these strategic assets significantly accelerates our growth in the marine market and adds breadth and depth to the supply chain solutions we offer,” said Kirk Aubry, Savage president and CEO. “We’re pleased to welcome our new team members from Settoon and excited to have Mike Ellis and his team on board to lead our marine business. Their operational experience, industry expertise and customer relationships will help ensure a seamless transition.”
“I’m excited about the opportunities Savage provides for our team and for our customers, who will all benefit from the marine and logistics services we offer,” said Ellis.