Holyhead Towing Company Ltd. has been acquired by Fortuna Ltd.

October 2024 — Fortuna Ltd. has acquired Holyhead Towing Company Ltd. Holyhead Towing, a trusted provider in the maritime and towing services sector, brings essential expertise and operational capabilities to Fortuna, enhancing the group’s marine logistics support and aligning with its strategic objectives. This acquisition marks a pivotal moment in Holyhead Towing’s journey, supporting its growth and service capacity within Fortuna’s international operations.

Holyhead Towing operates a fleet of modern and versatile vessels used in support of energy, marine civil engineering, dredging and renewable energy projects. Its fleet of 15 vessels includes ultra shallow and shallow draught anchor handling tugs, multicats, workboats and specialist transport vessels. The company is known for innovations in the sector, including having developed and built its own unique designs while anticipating the demands of developing markets. Holyhead Towing works on large-scale projects worldwide, providing charterers with modern, crewed, multi-purpose vessels with a reputation for being tough and dependable.

Fortuna is predominantly involved in the fishing and marine industries in the Falkland Islands. It also has business interests in associated companies in sectors such as residential and commercial property management. Fortuna was the first locally owned company to fish in Falklands waters shortly after the declaration of the Islands’ conservation zones in 1987. For over a quarter of a century, the company has supplied high quality seafood to international markets. A consistent policy of reinvestment has enabled the company to vigorously pursue opportunities as they have arisen in the Falklands fisheries. Today, the company is a major quota holder, owner and operator with interests in most areas of the Falklands fisheries. Associate companies include Consolidated Fisheries Ltd., which owns the Falklands’ quota for Patagonian Toothfish (Chilean seabass), and Georgia Seafoods Ltd., which operates in the MSC Longline Toothfish fishery of South Georgia and the South Sandwich Islands.

Our role in the transaction

Oaklins Cavendish, one of Oaklins’ member firms in the UK, acted for Holyhead Towing in its acquisition by Fortuna.