Louisiana-based offshore services group Chouest has agreed to acquire Canadian operator Horizon Maritime, Maritime Executive reported. Horizon supplies offshore support vessel services to Eastern Canada's offshore oil industry and clients overseas. The transaction would bring the Canadian business into Chouest's portfolio, with the buyer identifying opportunities to expand its activities across Canada's coastal markets.
The companies said in a joint statement that Horizon's management team would remain in place. They presented that arrangement as a means of maintaining continuity for customers while preserving the business's culture and values. Chouest owner and chief executive Dino Chouest highlighted Horizon's personnel, leadership and operational capabilities, saying the combination of its Canadian presence with Chouest's fleet expertise and technology offered scope for growth.
Established in 2015 to serve Eastern Canadian markets, Horizon acquired vessels secondhand during the offshore downturn. According to Maritime Executive, its current fleet includes three large vessels: anchor-handling tug supply vessel Horizon Arctic, platform supply vessel Horizon Dragon and medium-duty icebreaker Polar Prince. At the time of the report, Horizon Arctic was in the North Sea and Horizon Dragon was off Angola, while the latest AIS position cited for Polar Prince placed it in Canada.
Horizon also operates three small tugs that can be transported by truck, designed for utility work and cargo operations in icy waters. Its activities extend to ship-assist towage through Kotug Canada, a business operated in partnership with Kotug. These operations sit alongside the company's larger offshore support and icebreaking vessels.
Chouest is targeting expansion on Canada's East and West Coasts as well as in remote Arctic areas. The group also intends to introduce its broader service offering to the Canadian market, including marine transportation, marine engineering, advanced technology and subsea services. Horizon co-founder Sean Leet described the agreement as a way to build on the existing business and support its next stage of growth.