Entire share capital of Targe Towing acquired
Montrose-based towing company to become part of the Forth Ports group.
In a press release today, Forth Ports Ltd. announced that it has acquired Montrose-based, Targe Towing Ltd. Targe operates three tugs under contract at the Hound Point marine terminal on the River Forth and has nine vessels in total.
Targe has worked closely with Forth Ports towage subsidiary, Forth Estuary Towage for a number of years and Targe’s day-to-day operations will remain the same. Tom Woolley will remain as Managing Director and Nick Dorman will continue as Operations Director.
Charles Hammond, Group Chief Executive of Forth Ports, said: “This is an important strategic move, establishing a commercial marine services business of scale. I am confident that, as part of Forth Ports, Targe will develop and grow at an even faster pace.”
