Business

Crowley to buy Miami-based SeaFreight

Crowley is one of the largest shipping players operating out of South Florida.
Crowley is one of the largest shipping players operating out of South Florida. Miami Herald File Photo

In a deal between two of the biggest lines shipping out of South Florida with the Caribbean, Central America and northern South America, Crowley Maritime Corp.’s liner services group has signed a letter of intent to acquire Miami-based SeaFreight Agencies, a liner and logistics company that serves the Caribbean and parts of Central America.

Both companies are currently working through the due diligence process in anticipation of executing a defined purchase sale agreement by Sept. 30, a spokesman for Jacksonville-based Crowley said, declining to comment further at this time.

Steve Collar, Crowley senior vice president and general manager, Caribbean and Latin America services, told Crowley employees: “This acquisition represents a great opportunity for Crowley to grow its footprint and capabilities in the Caribbean Basin. We look forward to working together with SeaFreight’s employees to set our path for growth and success.”

SeaFreight President Roland Malins-Smith said in a message to its employees: “Many of us recognize that our industry is undergoing fundamental change which emphasizes the importance of scale and the wisdom of consolidation. In accepting the Crowley offer, SeaFreight has chosen to work with a like-minded group which shares our commitment to service excellence, integrity and focus on the wider Caribbean. We believe that this move is in the best interest of our customers and our employees.”

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