Boluda continues to consolidate with UK acquisition

The acquisition is the latest in an expansion spree for Boluda, which acquired Smit Lamnalco last year from joint venture partners Boskalis Group and Rezayat Group, adding 111 vessels to the company. Boluda reported it would have a fleet of 600 tugboats and an intervention capacity in 50 countries and 148 ports around the world. 

In addition to Smit Lamnalco, SMS acquired Resolve Salvage and Fire (Gibraltar) in February this year. Previously they also acquired Caledonian Towage (Scotland) and Iskes Towage & Salvage in 2021, Kotug Smit Towage in 2019, and German towage companies Unterweder Reederei and Lutgens & Reimers in 2017.

SMS has been in towing since 2002 and operates 20 tugs in the UK across the Tyne, Tees, Humber, Portsmouth, South Wales, and Belfast regions. SMS will acquire the harbour & offshore towage services and marine operations, along with management, office staff, crew, and fleet, based in the UK.

“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 and Founder Paul Escreet.

SMS will be part of Boluda Towage’s organisation in the UK, and will be branded Boluda Towage SMS, adding to SMS presence in the ports of Invergordon (Cromarty Firth), London, Liverpool, and Southampton.

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