SAAM, a leading towage services company in the Americas, announced today the signing of an agreement to purchase 30% of Intertug’s companies operating in Colombia and Mexico, giving it 100% ownership.

The deal represents an investment of US$ 30.5 million and is part of SAAM’s strategy to further consolidate its towage operations and strengthen its leadership in both countries. The 2021 purchase of 70% of these companies enabled it to enter the Colombian market and complement its presence in Mexico.

Except for one of the Mexican companies where the closing is subject to regulatory approvals, the transaction will be completed within a maximum of 30 days.

SAAM Towage has a fleet of more than 200 tugboats operating at over 100 ports in the Americas. Annually, these vessels perform more than 150,000 maneuvers, providing crucial support to a wide range of vessels (container ships, Ro-Ro vessels, tankers, LNG carriers, bulk carriers, etc.) and assisting in offshore exploration activities and in the growing segment of natural gas terminals.
Source: SAAM