Great Lakes Dredge & Dock now part of Saltchuk

The transaction closed on 1 April 2026, for a purchase price of US$17.00 per share in cash, and an enterprise value of approximately US$1.5Bn.

Saltchuk chairman Mark Tabbutt said, “We are proud to welcome Great Lakes to the Saltchuk family of companies.

“With Great Lakes, we have grown to nearly 10,000 team members united by a shared commitment: delivering safe, responsible, and reliable service to the communities we serve. We look forward to supporting Great Lakes’ reinvestment and growth ambitions for generations to come.”

Great Lakes joins Saltchuk as a stand-alone business unit, and it will continue to operate independently under its existing leadership. 

The acquisition diversifies Saltchuk’s portfolio, adding offshore and dredging services to complement more than 30 other US freight transport, marine services, and energy distribution companies.

Best known as a dredging company, Great Lakes Dredge & Dock has expanded further into the offshore sector with the construction of a subsea rock installation vessel, Acadia, which is due to start work shortly.