SAAM Takes Full Control of Intertug’s Ops in Colombia and Mexico

SAAM has completed the acquisition of the remaining 30% stake in Intertug's operations in Colombia and Mexico, giving the company full ownership of the subsidiaries.

The transaction, valued at $30.5 million, was completed after the required regulatory approvals were obtained and other closing conditions were satisfied.

The acquisition follows SAAM's initial purchase of a 70% stake in Intertug in 2021, which marked the company's entry into the Colombian market and complemented its operations in Mexico.

“This is a key step in our growth strategy for 2030. By closing this deal, we are consolidating our leadership in the region. Our goal is to expand our geographic presence through an efficient, flexible and sustainable operating model that stands out for its excellence in an industry critical to global trade,” said SAAM CEO Hernán Gómez.

Through its towage division, SAAM Towage operates a fleet of more than 200 tugboats across more than 90 ports in the Americas.

The company said its vessels carry out more than 155,000 maneuvers annually, supporting container ships, oil tankers, bulk carriers, roll-on/roll-off vessels and LNG carriers, as well as providing services for offshore exploration and natural gas terminals.