McAllister Towing and Transportation Co., New York, N.Y., has signed a purchase and sale agreement to buy the Portland, Maine, wharf parcel of Sprague Operating Resources LLC, Portsmouth, N.H., including the pier and warehouse. The deal is expected to close by year-end. Terms were not disclosed.
The acquisition adds fixed shoreside assets in a harbor where McAllister already works through subsidiary Portland Tugboat LLC.
"McAllister has long been proud of our connection to Portland Harbor through Portland Tugboat company, and we are thrilled to expand our physical footprint here," said President Buckley McAllister. He said the company plans to use the wharf and warehouse for added storage and expanded services across Maine and the Northeast.
For Sprague, the sale splits its Portland terminal. The upland portion goes to Hearts of Pine for a professional soccer stadium, while the water-dependent pier and warehouse pass to an operator that will keep them in active marine use.
"As we evolve our footprint in Portland, our highest priority has been finding a steward who shares our commitment to the working waterfront," said David Glendon, Sprague's chairman.
Founded in 1864, McAllister runs more than 60 tugs, crew boats and barges across 13 ports from Eastport, Maine, to San Juan, Puerto Rico, handling ship docking, harbor towing, coastal transport and offshore wind support.
The agreement is subject to customary closing conditions. McAllister will field inquiries on its plans for the parcel.
