Key Takeaways
- • Tallvine Partners completed its acquisition of substantially all assets of Crosby, a Gulf Coast towing, dredging, and marine services operator, with bankruptcy court approval on September 3, 2026, marking the platform's third acquisition in under one year.
- • Crosby operates more than 150 tugboats, dredges, and support vessels across the U.S. Gulf Coast and inland waterways, with shipyard and berth facilities in Houma and Port Fourchon, Louisiana, generating revenue from vessel assistance, channel dredging, rock placement, and marine construction services.
- • Tallvine's marine infrastructure platform, backed by industrial partner Thoroughbred Investment Partners and headquartered in Miami, has now acquired Donjon Marine (September 2025), Lind Marine (May 2026), and Crosby (September 2026), signaling aggressive consolidation in the middle-market maritime services sector.
- • Mike Ellis, a maritime industry veteran, joined the platform as operating advisor, reinforcing management depth as Tallvine scales its Gulf Coast marine operations footprint.
- • Deal terms were not disclosed; Latham & Watkins provided legal counsel to Tallvine on the transaction.
Summary
Tallvine Partners' North America marine infrastructure platform has acquired substantially all assets of Crosby, a longstanding Gulf Coast towing and dredging operator, following U.S. Bankruptcy Court approval for the Eastern District of Louisiana on September 3, 2026. The acquisition represents the platform's third major transaction in less than a year, reflecting accelerating consolidation activity within the regional marine services market during a period of operational stress in the industry.
Crosby, based in Galliano, Louisiana, operates an extensive fleet of more than 150 tugboats, dredges, and support vessels, along with owned shipyard and berth facilities in Houma and Port Fourchon. The company provides a comprehensive range of marine services including vessel towing, escorting and assistance operations along the U.S. Gulf Coast and inland waterways, channel dredging, rock placement, and marine construction support. These assets and service lines complement Tallvine's emerging maritime platform.
Tallvine Partners, a Miami-based infrastructure investment firm, focuses on middle-market opportunities across energy, utilities, transportation, logistics, and communications. The platform benefits from backing by Thoroughbred Investment Partners, an established industrial partner, and has strengthened its operational management by appointing Mike Ellis, a veteran maritime industry executive, as operating advisor. This management addition underscores Tallvine's commitment to hands-on operational improvement and industry expertise as it integrates Crosby with prior acquisitions—Donjon Marine (September 2025) and Lind Marine (May 2026).
Financial terms for the Crosby acquisition were not disclosed. Latham & Watkins served as legal counsel to Tallvine on the transaction. The acquisition positions Tallvine to capitalize on consolidation opportunities within fragmented Gulf Coast maritime infrastructure while potentially leveraging operational synergies across its growing portfolio of towing, dredging, and marine services assets.
Crosby, based in Galliano, Louisiana, operates an extensive fleet of more than 150 tugboats, dredges, and support vessels, along with owned shipyard and berth facilities in Houma and Port Fourchon. The company provides a comprehensive range of marine services including vessel towing, escorting and assistance operations along the U.S. Gulf Coast and inland waterways, channel dredging, rock placement, and marine construction support. These assets and service lines complement Tallvine's emerging maritime platform.
Tallvine Partners, a Miami-based infrastructure investment firm, focuses on middle-market opportunities across energy, utilities, transportation, logistics, and communications. The platform benefits from backing by Thoroughbred Investment Partners, an established industrial partner, and has strengthened its operational management by appointing Mike Ellis, a veteran maritime industry executive, as operating advisor. This management addition underscores Tallvine's commitment to hands-on operational improvement and industry expertise as it integrates Crosby with prior acquisitions—Donjon Marine (September 2025) and Lind Marine (May 2026).
Financial terms for the Crosby acquisition were not disclosed. Latham & Watkins served as legal counsel to Tallvine on the transaction. The acquisition positions Tallvine to capitalize on consolidation opportunities within fragmented Gulf Coast maritime infrastructure while potentially leveraging operational synergies across its growing portfolio of towing, dredging, and marine services assets.
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