Southern Towing Company Announces Acquisition of Devall
Southern Towing Company (“STC”), an affiliate of CC Industries (“CCI”), announced today it acquired Devall Towing (“Devall” or the “Company”) from the Devall family. Founded in 1952, Devall is a towboat and barge operator for specialty chemicals along the Gulf Intracoastal Waterway and Lower Mississippi River.
The acquisition expands STC’s operations into specialty chemical products. The combination of Devall’s long-standing customer relationships with STC’s upriver capabilities allows Devall and STC to provide integrated marine transportation solutions across the Gulf Intracoastal and U.S. inland waterways. STC’s CEO Ed Grimm stated, “The acquisition significantly enhances Southern Towing’s Gulf Coast capabilities. We look forward to growing our transportation capabilities, while continuing to provide superior service to the customers we are privileged to serve.”
Devall is headquartered in Sulphur, Louisiana, and operates a fleet of 36 towboats and 125 liquid tank barges. The Company will continue to operate under the Devall brand as a new division of STC. The members of the management team will continue in their current roles.
“The Devall family and team are excited to partner with both Southern Towing and CCI. We believe that the cross-selling opportunities with Southern Towing are extremely compelling, and that CCI’s extensive experience and resources positions Devall for future growth,” added Kenny Devall, COO of Devall, who will continue to lead the Company.
Bill Crown, President and Chief Executive Officer of CCI stated, “Devall shares the same core values and vision that we have at STC and CCI. We look forward to building on those shared values to further invest in and grow Devall and STC.”
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