Chouest Group Acquires Canada's Horizon Maritime
The Chouest Group and the founders of Horizon Maritime Services have announced a strategic partnership that includes the acquisition of the Canadian offshore and marine services company from CFFI and its lender, HPS.
The transaction expands the Louisiana-based Chouest Group's presence in Canada, combining its global offshore support fleet, subsea services, shipbuilding, engineering and marine technology capabilities with Horizon Maritime's established operations across Canada's Atlantic, Pacific and Arctic regions.
Based in St. John's, Newfoundland and Labrador, Horizon Maritime specializes in harsh-environment marine operations, serving offshore energy, Arctic and other maritime markets. The company also maintains established relationships with Indigenous communities and organizations.
"We see immense value in Horizon's team, leadership and operational excellence," said Dino Chouest of the Chouest Group. "Combining Chouest's global fleet expertise and technology with Horizon's local footprint across Canada's vast coastlines opens up incredible growth potential."
Horizon Maritime will retain its existing management team and operating structure. Steve Widmeyer will continue as CEO, while Widmeyer and co-founder Sean Leet will join the company's Board of Directors.
The partners said the combination will support expanded marine transportation, subsea and specialized offshore services, while creating opportunities to increase operational capacity across Canada's three coastlines.
Leet said the partnership will enable Horizon to broaden its service offerings and increase dual-use maritime capabilities.
The companies also emphasized workforce development, continued investment in Canadian operations and expanded Indigenous participation in the marine economy.
Financial terms of the acquisition were not disclosed.
The agreement provides Chouest with an established Canadian operating platform while giving Horizon access to a larger international fleet, technical resources and specialized marine equipment.
