Tallvine Takes Crosby Out of Chapter 11 Bankruptcy

Miami-headquartered investment group Tallvine Partners has expanded its position in the US Gulf Coast and inland waterways through the acquisition of Crosby Enterprises. Tallvine acquired the assets of Crosby and the majority of its affiliates following a court-approved sale process connected with Crosby's Chapter 11 proceedings. Crosby is a leading provider of marine infrastructure solutions, with a fleet of more than 150 tugboats, dredgers and support vessels, plus shipyard and berth facilities.

 

Details of the Acquisition

 

Tallvine Partners has completed an acquisition. It acquired the assets of Crosby Enterprises. It also acquired most of its affiliates. This strengthens its regional position. The focus is the US Gulf Coast and inland waterways.

The acquisition involves partners. Tallvine is working with another firm. This is a Denver-based investment group. They will operate Crosby's assets. A new company will be based in Louisiana.

 

The Company Acquired

 

Crosby is a significant marine provider. It offers critical marine infrastructure solutions. These span the US Gulf Coast. Inland waterways are also covered. It has a substantial fleet.

The company's assets are extensive. Its fleet exceeds 150 vessels. These include tugboats and dredgers. Support vessels also feature. A shipyard and berth facilities complete the assets.

 

The Bankruptcy Context

 

The acquisition followed bankruptcy proceedings. Crosby was in Chapter 11 proceedings. A court-approved sale process was conducted. This was connected to those proceedings. A bankruptcy court approved the sale.

The process was formally completed. The court approved it in September 2026. This was in Louisiana. It cleared the acquisition. It brought Crosby out of bankruptcy.

 

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The Platform Expansion

 

The acquisition builds a platform. It is Tallvine's third such acquisition. This is for its marine infrastructure platform. It follows two earlier deals. These involved a salvage group and a tug owner.

The platform continues to grow. The earlier deals spanned 2025 and 2026. Crosby adds significant scale. It brings a leading regional presence. This expands the platform's capabilities.

 

The Services and People

 

Crosby offers diverse services. These span offshore and inland towing. Dredging is also provided. Rock placement features too. Marine-construction support completes the offering.

The acquisition preserves operations. Tallvine will invest in the people. It will also invest in the fleet. Infrastructure investment features too. An operating advisor will join the company.

 

Significance of the Deal

 

The acquisition strengthens Tallvine's position. Company leadership welcomed Crosby. It brings a leading market presence. This is in an active maritime market. It complements the platform.

The deal opens future opportunities. Leadership cited sharing expertise. It could enhance platform capabilities. This spans towing and dredging. It aims to better serve Gulf Coast customers.