Moran Towing Corp., New Canaan, Ct., announced on Oct. 2 that it has acquired Bisso Towboat, New Orleans, as a long-term investment in the ongoing growth of New Orleans and the lower Mississippi River region. No acquisition price has been released and additional specifics of the sale have not been forthcoming.
Moran was founded in 1860 and is privately owned and operated. It offers ship assist services in 17 ports along the U.S. East and Gulf Coasts and has operated in New Orleans since 2006. In addition to its ship assist business, Moran also services LNG terminals, and transports liquid and dry bulk cargo with its fleet of liquid and dry bulk barges.
Bisso was founded in 1890 in New Orleans, and its headquarters remain in the area to this day. It is known in the region for its well-maintained, modern fleet of ASD tractor tugs, and its focus on reliable operations for its customers. Like Moran, it is also privately owned and operated.
“Bisso has deservedly earned a reputation as a high-quality operator who deeply values its long-term customer relationships, and treats its employees with respect,” Ted Tregurtha, Moran’s CEO & president, said in a statement announcing the acquisition. “We are thrilled to welcome Bisso to the Moran team. This acquisition reflects our commitment to serve the growing needs of New Orleans and the Lower Mississippi River communities where we operate for decades to come.”
Both Bisso and Moran have long histories of family-run ownership and longstanding partnerships with like-minded customers.
“When we first explored this opportunity with Moran, we were struck by our many shared values: prioritizing our employees, providing safe and reliable operations to customers and partners, and continuous investing in the long-term health and growth of the business,” said Scott Slatten, president of Bisso.
