Parker Towing Acquires Henry Marine Service
Parker Towing Company Inc., Tuscaloosa, Ala., “one of the oldest, most respected barge lines in the country,” as its literature states, recently expanded its marine and terminal operations on the southeastern waterways with the acquisition of a marine services company in Mobile, Ala. On September 27, Parker Towing purchased the assets of Henry Marine Service Inc.
“We have been working in the same areas with Henry Marine Service for many years and know them to maintain a quality operation. Adding their very capable personnel to our marine and terminal operations will create a legacy for Henry Marine Service while helping ensure a bright future for Parker Towing Company,” said Tim Parker III, Parker Towing’s president. “They have been providing services to Alabama Power Company, as we have, for many years, so it just made sense to bring all those services under one roof, so to speak. Those and many other synergies made this a winning opportunity for both parties.”
Among other assets, Parker Towing acquired five of the six towboats owned by Henry Marine, along with terminal operations located along the river frontage in Mobile harbor, deck and crane barges and mobile marine service operations. Three of the boats have 1,200 hp.: the mvs. Beverly H, Mary Sue and Natalie H. The others are the Jamie H, at 800 hp., and the Little Allen, at 330 hp. Not purchased was the Terry Henry, a 60-foot, 800 hp. boat.
Parker intends to upgrade the vessels to meet Subchapter M requirements before renaming them.
Henry Marine was founded in 1990 by Allen Henry, upon his purchase of several towboats from Childers Company. He will stay on in a management capacity, said Parker. The other shoreside and boat personnel will be retained as well.
Grady Coble, Parker’s vice president of terminal services, will oversee the additional terminal and mobile marine service operations while most of the towboats will be absorbed into Parker’s marine operations, Parker said.