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Saltchuk Welcomes Great Lakes Dredge & Dock to its Family of Companies

GLDD
  • Saltchuk Resources, Inc. completed the acquisition of Great Lakes Dredge & Dock Corporation as a wholly owned subsidiary on April 1, 2026.
  • The transaction closed with a purchase price of $17.00 per share in cash, resulting in an enterprise value of approximately $1.5 billion.
  • Great Lakes will operate as a stand-alone business unit within Saltchuk while maintaining its independent leadership & culture.
  • The acquisition adds dredging services to Saltchuk's portfolio, which includes over 30 other U.S. freight transportation, marine services, & energy distribution companies.
  • A tender offer expired on March 31, 2026, with approximately 79.88% of Great Lakes shares validly tendered.
  • Great Lakes common stock ceased trading on the NASDAQ & will be delisted & deregistered under the Securities Exchange Act of 1934 effective April 1, 2026.
  • Saltchuk Chairman Mark Tabbutt highlighted the combined workforce of nearly 10,000 team members & a shared commitment to safe service.
  • Great Lakes President Lasse Petterson emphasized the alignment of values & the continuation of the company's long-term growth strategy in U.S. dredging & offshore energy sectors.
  • Additional details regarding a previously announced debt tender offer will be provided in a subsequent press release.