Posted on February 3, 2021
CHICAGO–(BUSINESS WIRE)–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.”
About Devall Towing
Devall is a leading marine transportation provider of specialty chemicals on the Gulf Intracoastal Waterway and Lower Mississippi River. Devall operates a fleet of 36 towboats and 125 liquid tank barges and provides marine transportation services to customers primarily in the chemicals industry. Devall operates fleeting locations in Lake Charles, Louisiana (ICWW mile 242) 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 was founded in 1952 by Alfred Devall and is headquartered in Sulphur, Louisiana.
About Southern Towing Company
Southern Towing Company, 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, Tennessee.
About CC Industries, Inc.
CC Industries is the Chicago-based holding company for the Crown family’s privately-held companies, including: GILLIG, Great Dane Trailers, J.L. Clark, Miracapo Pizza Company, Provisur Technologies, Riverside Rail, Selig, Southern Towing Company, and Trail King Industries. The Crown family has a long history of owning and growing industrial businesses. The Crown family’s original business dates itself to 1919 when Henry Crown and his brothers started Material Service Corporation.
Contacts
Jason Green
jgreen@crown-chicago.com
(312) 750-6717
Source: businesswire
