Seattle-based Saltchuk Resources, Inc., a major U.S. maritime and logistics group, has agreed to buy Great Lakes Dredge & Dock Corporation the largest dredging and marine services company in the United States in an all-cash deal valued at about $1.5 billion.
Great Lakes is a 136-year-old U.S. dredging contractor with about 200 specialized vessels, performing dredging, marine construction, and offshore energy support work.
Dredging is vital for maintaining and expanding ports, waterways and coastal defenses critical elements of global trade and domestic logistics.
Great Lakes has been expanding beyond traditional dredging into offshore energy support, including wind-related subsea work. Under Saltchuk, this segment may gain more strategic backing and investment.