Southern Towing Co., an affiliate of CC Industries, announced Feb. 2 that it has acquired Devall Towing of Sulphur, reports the Waterways Journal.
Devall Towing is a towboat and barge operator for specialty chemicals along the Gulf Intracoastal Waterway and Lower Mississippi River. The company operates a fleet of 36 towboats and 125 liquid tank barges, as well as fleeting locations in Lake Charles and Victoria, Texas, with combined capacity for up to 175 barges. Devall Diesel Services provides marine diesel sales and service with dealerships in Louisiana and Texas.
Devall Towing was founded in 1952 by Alfred Devall and is headquartered in Sulphur. The company will continue to operate under the Devall brand as a new division of STC, and the members of the management team will continue in their current roles, STC said in an announcement.
“We believe that the cross-selling opportunities with Southern Towing are extremely compelling, and that CCI’s extensive experience and resources position Devall for future growth,” says Kenny Devall, chief operating officer of Devall, in the announcement.
STC, a portfolio company of CCI, is one of the nation’s largest transporters of liquid fertilizer and other products along the inland waterways of the United States. STC operates a fleet of 27 towboats and 72 barges and provides marine transportation services to customers in agriculture and industrial markets. Southern Towing was founded in 1958 and is headquartered in Memphis, Tenn.
CC Industries is the Chicago-based holding company for the Crown family’s privately-held companies. See the full story.
