SAAM Towage set to acquire all of Intertug in US$30.5M transaction

SAAM Towage has signed an agreement to purchase the remaining 30% of Intertug’s companies operating in Colombia and Mexico that SAAM did not already own.
Santiago, Chile-headquartered SAAM is investing US$30.5M to take 100% ownership of Intertug and consolidate its position in Latin American towage.
In 2021, SAAM acquired 70% of these companies, bringing the company into the Colombian market and complementing its existing presence in Mexico.
SAAM said it expects that the majority of the deal will be completed within a maximum of 30 days; however, for one of the Mexican companies, the closing is subject to regulatory approvals, which could require more time.
The takeover target, Intertug, was initially established in 1993 and operates a fleet of 28 tugs with installed power ranging from 1,400 kW to 5,400 kW.
SAAM Towage has a fleet of more than 200 tugboats operating at over 100 ports in the Americas, from Canada in North America to Chile in South America.
According to Intertug, its vessels annually perform more than 150,000 manoeuvres, providing support to a wide range of vessels, including container ships, ro-ro, bulk carriers, tankers and LNG carriers.