The Firm is representing J.P. Morgan, as administrative agent, security trustee, and lead arranger, in connection with the committed revolving credit and term loan A financing for E.N. Bisso & Son, Inc.’s (“E.N. Bisso”) acquisition of Seabulk Towing, Inc. (“Seabulk Towing”) from Seabulk Towing Holdings Inc., a subsidiary of Seacor Holdings Inc. The transaction includes 12 harbor towing vessels (five of which are advanced rotor tugs) across ports in Florida and Alabama and represents all of Seabulk Towing’s operations in those states.
E.N. Bisso provides ship-assist/harbor tug services in four ports: New Orleans/the Mississippi River; Gulfport, Mississippi; Port Canaveral, Florida; and Palm Beach, Florida. After the closing of the acquisition, E.N. Bisso now provides service in four additional ports and has increased its fleet to 34 tugboats.
Seabulk Towing provides assist operations, offshore towing services, harbor services, coastal, offshore and towage support.
The Simpson Thacher team includes Andrew Lanius, Tina Zheng, Kevin Carson, Jeremy Loutensock and Christine Robb (Banking and Credit); Michael Mann and Tova Pfeffer (Tax); Michael Isby (Environmental); and Pasco Struhs (ERISA).