Svitzer acquires Port Towage Amsterdam
Crew, staff, and vessels retained as Svitzer acquires total ownership of joint venture with Iskes, delivering on 2025 growth strategy
Amsterdam, 20 December 2019 – Svitzer, a leading provider of global marine services, has today announced it has acquired Port Towage Amsterdam (PTA). PTA was formed in 2014 as a joint venture between Svitzer and Iskes Towage and Salvage, and following today’s announcement Svitzer expects to take complete ownership during January 2020.
As part of the agreement Svitzer acquires the shares from Iskes Towage and Salvage, obtaining 100% ownership of PTA. Furthermore, the deal sees Svitzer taking over more than 30 employees, including crew from Iskes Towage and Salvage. Nine shore based staff from PTA will also join the Svitzer family. In addition, seven Iskes tugs will be taken over by Svitzer.
The acquisition marks the next step in Svitzer Europe’s 2025 strategy, which will see the organisation bolster its marine services offering and connect sea and shore through efficient and innovative towage operations.
Commenting on the acquisition, Kasper Nilaus, Managing Director, Svitzer Europe, said: “At Svitzer we are committed to improving and strengthening our service offering, particularly for our customers in the busy ports of Amsterdam and Ijmuiden. That’s why this acquisition of PTA is a sensible move as we continue to serve this dynamic and important market.
“With a total infrastructure solution spanning vessels, crew and shoreside staff already in place in Amsterdam, customers should anticipate no disruption to their service. We look forward to continuing the same flawless service delivered by PTA over the last six years. I would like to extend a warm welcome into the Svitzer family to both the skilled crews from Iskes and the highly qualified staff from PTA. Also, with this deal I am delighted to add another seven tugs to Svitzer’s fleet.”
The deal will see Svitzer take total control of PTA’s operations from January 2020. Fred Jeeninga, Cluster Managing Director of Svitzer Continental Europe, will head the new operation in Amsterdam.
This acquisition resolves concerns raised by the ACM (Authority for Consumers & Markets) in the Netherlands regarding the full-functional nature of PTA. The ACM did not establish the existence of any infringement. As a values driven company with a strong culture and commitment towards competition compliance, Svitzer has worked closely and cooperatively with the ACM to address its concerns. Svitzer’s acquisition of PTA is consistent with the ACM’s guidance.