General – Dredging
Saltchuk recently welcomed Great Lakes Dredge & Dock Corporation as its newest wholly owned subsidiary.
The transaction closed this morning for a purchase price of $17.00 per share in cash, and an enterprise value of approximately $1.5 billion.
“We’re proud to welcome Great Lakes to the Saltchuk family of companies,” said Saltchuk Chairman Mark Tabbutt. “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 experienced leadership.
The acquisition diversifies Saltchuk’s portfolio, adding dredging services to complement more than 30 other U.S. freight transportation, marine services, and energy distribution companies.
