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PwC Corporate Finance advises shareholders of Targe Towing Ltd on sale to Forth Ports Ltd

Posted: 11th January 2021

PwC’s Corporate Finance team in Scotland is delighted to have acted as lead advisor to Targe Towing Ltd (‘Targe’) on its sale to Forth Ports Ltd.

Targe was founded in 1991 and is a leading, privately-owned operator in the specialised towage and marine services industry. Targe owns and operates tugboats and specialist vessels out of several ports in Scotland, as well as being the longest serving continuous supplier of services to the Forties Pipeline System at the Hound Point Marine Terminal.

The business is led by one of the most experienced maritime towage management teams in the UK, with deep operational knowledge, who have played an important role in shaping industry best practice over recent decades.

The acquirer, Forth Ports Ltd, is one of the leading and largest port operators in the UK managing a number of ports including Tilbury, Grangemouth, Leith, Rosyth, Dundee and Fife Ports and has its own marine services operations through Forth Estuary Towage.

The Team advising on the Deal was led by Jon Shelley, Partner and Head of Corporate Finance, Scotland.

Jon Shelley commented:

“PwC are delighted to have provided lead advisory services to Targe. The business and cultural fit between Targe and Forth Ports is very strong and I expect great future success for the combined business.”

Business Comment

Business Comment is the Edinburgh Chamber of Commerce’s bi-monthly magazine. It provides insight on Edinburgh’s vibrant business community, with features on the city’s key sectors, interviews with leading figures and news on new business developments in the capital.
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