Chouest Group Acquires Canada's Horizon Maritime, Expanding into the Arctic

Louisiana-based US group Chouest Group has acquired Canadian company Horizon Maritime, a marine and offshore services provider headquartered in St. John's, Newfoundland and Labrador. The deal expands Chouest's presence on Canada's east and west coasts and in the Arctic region. The company was acquired from CFFI and its lender HPS, through a partnership with Horizon's founders, and the financial terms of the transaction were not disclosed.

As part of the agreement, Horizon Maritime will retain its current management and leadership structure. Steve Widmeyer will continue as CEO, while he and co-founder Sean Leet will join the company's board of directors. The parties noted that this arrangement aims to ensure continuity for existing clients, ongoing projects and crewing operations.

Dino Chouest, owner and CEO of Chouest Group, stated that they see great value in Horizon's team, leadership and operational excellence, and said that combining Chouest's global fleet and technology expertise with Horizon's local presence on the Canadian coasts opens up significant growth potential. For his part, Sean Leet, co-founder of Horizon, said the deal represents an opportunity to take the company into its next stage of growth, drawing on Chouest's experience, assets and capabilities.

Horizon Maritime was founded in 2015 to serve markets in eastern Canada and, according to Maritime Executive, acquired quality vessels on the secondhand market during the offshore sector downturn. Its fleet includes the anchor handling tug supply vessel Horizon Arctic, the platform supply vessel Horizon Dragon and the medium icebreaker Polar Prince, along with three small tugs designed to operate in ice-covered waters. The company also operates a harbor towage business in Canada jointly with Dutch firm Kotug, under the Kotug Canada brand, a partnership established in 2019 according to Splash247.

According to gCaptain, the acquisition comes at a time when Canada is seeking to strengthen its maritime capabilities, particularly in the Arctic, where commercial activity, infrastructure development and national security interests overlap. The companies also said they remain committed to expanding the participation of Indigenous communities in the country's maritime economy.