{"id":4790,"date":"2021-01-11T09:22:40","date_gmt":"2021-01-11T09:22:40","guid":{"rendered":"https:\/\/sprengthomson.com\/?p=4790"},"modified":"2024-04-11T11:01:39","modified_gmt":"2024-04-11T11:01:39","slug":"forth-ports-acquires-targe-towing-to-power-up-growth-opportunities","status":"publish","type":"post","link":"https:\/\/sprengthomson.com\/forth-ports-acquires-targe-towing-to-power-up-growth-opportunities\/","title":{"rendered":"Forth Ports acquires Targe Towing to power up growth opportunities"},"content":{"rendered":"<p>Forth Ports Limited (\u201cForth Ports\u201d) and Targe Towing Limited (\u201cTarge\u201d) jointly announce today (11<sup>th<\/sup> January,2021) that Forth Ports has acquired the entire share capital of Targe.<\/p>\n<p>Targe is a first class and extremely professional marine services business with an excellent reputation for servicing customers and safety in its operations led by an excellent management team.\u00a0 Targe owns a fleet of nine vessels, including five tugs, which operate in waters throughout the East of Scotland, as well as managing a further three tugs which operate at the Hound Point marine terminal on the Firth of Forth. Forth Ports\u2019 fleet numbers 10, including four tugs.<\/p>\n<p>Targe has worked closely with Forth Ports\u2019 towage subsidiary, Forth Estuary Towage, for a number of years and both companies believe the acquisition represents an opportunity to build on Targe\u2019s reputation, to expand and take advantage of business opportunities in the towage and marine services area.<\/p>\n<p>Targe\u2019s day-to-day operations will remain the same, with both Tom Woolley, Managing Director, and Nick Dorman, Operations Director, continuing to lead the business, and the Targe name will be retained.<\/p>\n<p>Alasdair Smith, Forth Ports\u2019 Senior Marine Commercial Manager, will join the Targe team in a senior position which will bring the combined commercial expertise of Forth Ports\u2019 Group businesses to deliver on its growth ambitions. The integration process and close collaboration between Forth Estuary Towage and Targe as part of Forth Ports will be led by Stuart Wallace, Forth Ports\u2019 Chief Operating Officer.\u00a0The consideration for the acquisition is not being disclosed.<\/p>\n<p><strong>Charles Hammond, Group Chief Executive of Forth Ports, said:<\/strong><\/p>\n<p><em>\u201cThis 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.\u201d<\/em><\/p>\n<p><strong>Tom Woolley, Managing Director of Targe Towing, said:<\/strong><\/p>\n<p><em>\u201cWe have enjoyed a close working relationship with the Forth Ports team for years and it\u2019s clear that there are opportunities that we can pursue together to further develop the business.\u201d<\/em><\/p>\n<p>Targe has received many awards for its work at the Hound Point marine terminal from BP and INEOS, both major customers of Forth Ports and Targe, and the company is recognised for providing a world class service in this operation.<\/p>\n<p>Forth Ports and Targe have each made significant investments in their towage assets recently, with Forth Ports adding the Craigleith and the Inchcolm tugs to its fleet and the Kittiwake and Peterel joining Targe\u2019s fleet.<\/p>\n<p><strong><em>Did you know that Spreng Thomson specialises in external and internal communications? Find out more about what we do\u00a0<a href=\"https:\/\/sprengthomson.com\/services\/\">here<\/a>.<\/em><\/strong><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Forth Ports Limited (\u201cForth Ports\u201d) and Targe Towing Limited (\u201cTarge\u201d) jointly announce today (11th January,2021) that Forth Ports has acquired the entire share capital of Targe.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":10,"featured_media":4792,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[228,1],"tags":[9],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Forth Ports acquires Targe Towing to power up growth opportunities - Spreng Thomson<\/title>\n<meta name=\"description\" content=\"Forth Ports Limited (\u201cForth Ports\u201d) and Targe Towing Limited (\u201cTarge\u201d) jointly announce today (11th January,2021) that Forth Ports has acquired the entire share capital of Targe.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sprengthomson.com\/forth-ports-acquires-targe-towing-to-power-up-growth-opportunities\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forth Ports acquires Targe Towing to power up growth opportunities - Spreng Thomson\" \/>\n<meta property=\"og:description\" content=\"Forth Ports Limited (\u201cForth Ports\u201d) and Targe Towing Limited (\u201cTarge\u201d) jointly announce today (11th January,2021) that Forth Ports has acquired the entire share capital of Targe.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sprengthomson.com\/forth-ports-acquires-targe-towing-to-power-up-growth-opportunities\/\" \/>\n<meta property=\"og:site_name\" content=\"Spreng Thomson\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-11T09:22:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-11T11:01:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/sprengthomson.com\/wp-content\/uploads\/2021\/01\/ST-website-resized-image.png\" \/>\n\t<meta property=\"og:image:width\" content=\"885\" \/>\n\t<meta property=\"og:image:height\" content=\"585\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Dylan Macdonald\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@sprengthomson\" \/>\n<meta name=\"twitter:site\" content=\"@sprengthomson\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dylan Macdonald\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sprengthomson.com\/forth-ports-acquires-targe-towing-to-power-up-growth-opportunities\/\",\"url\":\"https:\/\/sprengthomson.com\/forth-ports-acquires-targe-towing-to-power-up-growth-opportunities\/\",\"name\":\"Forth Ports acquires Targe Towing to power up growth opportunities - 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