Bay-Houston Towing Co. entered into a definitive agreement to acquire Seabulk Towing Services, Inc. from SEACOR Holdings Inc. on September 25, 2023. Upon closing of the transaction, Bay-Houston will acquire all of Seabulk?s operations in Port Arthur, Texas, and Lake Charles, Louisiana.

After closing, Seabulk Towing Services will be renamed Bay Towing, LLC. Winston & Strawn LLP acted as legal adviser to Bay-Houston. J.P. Morgan Securities LLC acted as financial advisor to SEACOR Holdings Inc.