JBR M&A transaction
Resolve Marine and Boluda Towage
JBR has acted as M&A advisor to Resolve Marine
JBR Corporate Finance's deal team consists of: Rick ter Maat and Charlotte Zoller
Resolve Marine is selling its Gibraltar operations to Boluda.
JBR assisted Resolve Marine throughout the sale process as Corporate Finance advisor.
The sales process was guided by JBR from the preparation of marketing documentation and market approach and an extensive due diligence process, to the final closing in Gibraltar. The parties worked closely together throughout the process.
Facts and figures
Resolve Marine
Resolve Marine is a world leader in ship and vessel salvage, rescue, emergency response and specialized marine services. Resolve Marine was founded in 1984 and is headquartered in Fort Lauderdale, Florida. The company has commercial offices, response warehouses and depots in the United States, Europe, Africa and Asia.
Boluda Towage
Boluda Towage is a family-owned and global leader in marine services. The company provides customer-focused towage services in major ports around the world. Boluda can be found in 100 ports, operates a fleet of more than 400 vessels in 18 countries on continents in Europe, Africa, Asia and Latin America, and also offers offshore and ocean towage services, and salvage operations.
Feb. 7, 2024
Press Release
Boluda acquires Resolve’s Gibraltar harbour towing operations and fleet
Boluda Towage acquired the towage operations and the fleet of four tugs. JBR supported Resolve Marine as corporate finance advisor in the sale.
The family business Resolve Marine was founded by Joseph E. Farrell Jr. Farrell. He purchased the first tugs and served as captain and owner when he launched marine salvage operations in Florida and the Caribbean in the early 1980s.
Resolve Marine was officially founded in 1984. In 2015, Resolve Marine acquired Steel Mac Ltd, a Gibraltar-based diving, salvage and marine services provider, and TP Towage, the sole provider of harbor towage services in and around the Port of Gibraltar. The acquisition of these two companies reflects Resolve's ongoing commitment to enhance its global response capabilities and maintain a customer-centric approach in the maritime services industry.
"Gibraltar port operations has been part of the Resolve Marine family since 2015. We are delighted that Boluda Towage sees the tremendous value of the company serving the Port of Gibraltar and adding it to its portfolio of towage services in key global ports," said Joseph Farrell III, deputy CEO of Resolve Marine.
The acquisition continues Boluda's expansion in the international market and strengthens its strategic presence for maritime services in the Strait of Gibraltar, the gateway from the Atlantic to the Indian Ocean via the Mediterranean. More than 100,000 vessels pass through the area annually. With the acquisition of the Gibraltar operations, expands the range of services Boluda can offer locally to its clients.
JBR assisted Resolve Marine throughout the entire sales process, from preparation, marketing documentation and market approach, to an extensive due diligence process and closing, with parties working closely together throughout the process.
"We are honoured to have been part of this successful deal and extend our gratitude to our client, Resolve Marine, for entrusting us with advising them on this transaction," said Rick ter Maat
Contact the dealteam personally
Rick ter Maat
Partner
Charlotte Zoller
Consultant Corporate Finance