Lynden, a group of freight transportation companies serving Alaska and the Pacific Northwest, has entered into a purchase agreement to buy Northland Services, a tug and barge carrier serving Seattle, Alaska and Hawaii.
Northland will be an independent operating company within the Lynden family of companies. The current Northland management team would stay in place.
Lynden’s Alaska Marine Lines also provides tug and barge transportation services between Seattle and southwest and central Alaska. Northland adds western Alaska and Hawaii to Lynden’s service, said Jim Jansen, Lynden’s chairman, in a written statement.
“Where there is service overlap, we will organize to provide a higher level of service,” Jansen said. “In certain communities where Alaska Marine Lines and Northland are the two primary freight carriers, other barge lines have plans to compete with us.”
The proposed transaction is subject to regulatory review and other terms that, if completed, would likely result in the deal closing in late 2013. Northland’s major shareholder is Endeavor Capital.