Chouest Buys Horizon Maritime in Arctic Expansion Play
Louisiana-based Chouest Group acquires Canadian operator Horizon Maritime to strengthen its Arctic and East Coast.
Horizon, founded in 2015 and headquartered in St. John’s, Newfoundland and Labrador, has carved a niche in providing offshore support vessel (OSV) services to Eastern Canada’s oil sector and international clients. Its fleet includes three large vessels: the AHTS Horizon Arctic, currently deployed in the North Sea; the PSV Horizon Dragon, operating off Angola; and the Polar Prince, a medium-duty icebreaker designed for Arctic conditions.
Additionally, Horizon operates three small truckable tugs, built specifically for utility and cargo operations in icy waters, and a ship-assist towage business in partnership with Kotug, known as Kotug Canada.
Chouest Group, a global leader in offshore services based in Louisiana, brings to the table a vast portfolio of marine transportation, engineering, advanced technology, and subsea services. As Dino Chouest, owner and CEO of Chouest Group, noted:
«We see immense value in Horizon’s team, leadership and operational excellence. We look forward to working closely with Horizon’s clients, building on their established reputation and growing the business.»
The acquisition comes at a pivotal moment for Canada’s maritime industry, particularly as the country seeks to strengthen its capabilities in the Arctic. The deal ensures continuity for Horizon’s existing clients, ongoing projects, and crewing operations, while also paving the way for expanded services across the country’s East Coast, West Coast, and Arctic regions.
For Chouest, the acquisition represents an opportunity to introduce its full suite of services into the Canadian market. This includes not only marine transportation but also advanced subsea technologies and engineering solutions tailored to the demands of Arctic conditions. Sean Leet, co-founder of Horizon Maritime, emphasised the strategic importance of the deal:
«This is an opportunity to build on what we have created and take Horizon Maritime into its next phase of growth.»
Sean Leet·Co-founder, Horizon Maritime
Steve Widmeyer, who has served as CEO of Horizon Maritime, will continue in his role and join the company’s board of directors alongside Leet. This continuity is expected to reassure clients and stakeholders, ensuring a smooth transition and the preservation of Horizon’s corporate culture and values.
The acquisition also reflects broader trends in the offshore industry, where consolidation is increasingly seen as a means to enhance operational efficiency and expand geographic reach. Horizon Maritime’s expertise in harsh-environment operations, combined with Chouest’s global fleet and technological capabilities, positions the merged entity as a formidable player in the Arctic and sub-Arctic markets. This is particularly relevant as Canada ramps up its focus on Arctic sovereignty, infrastructure development, and national security, all of which require robust maritime support.
While the financial terms of the deal remain undisclosed, the strategic rationale is clear. Horizon Maritime was acquired from its previous owners, CFFI and its lender HPS, through a partnership with the company’s founders. This arrangement underscores the confidence that both parties have in the future of the combined entity. As Chouest’s Dino Chouest put it:
«Combining Chouest’s global fleet expertise and technology with Horizon’s local footprint across Canada’s vast coastlines opens up incredible growth potential across Canada’s East Coast, West Coast and Arctic regions.»
Dino Chouest·Owner and CEO, Chouest Group
For stakeholders in Canada’s offshore and Arctic sectors, the acquisition signals a new era of collaboration and innovation. The merged company is expected to leverage Horizon’s local knowledge and relationships while integrating Chouest’s advanced technologies and global best practices. This synergy could prove instrumental in addressing the logistical and environmental challenges of operating in Canada’s northern waters, where ice, extreme weather, and remote locations demand specialised expertise.
Looking ahead, the focus will likely be on integrating the two companies’ operations and expanding their service offerings. Horizon Maritime’s existing fleet, which includes the Polar Prince icebreaker, will play a crucial role in supporting Arctic operations, while Chouest’s broader portfolio of services could open new opportunities in subsea engineering and marine technology.
The deal also positions the merged entity to capitalise on Canada’s growing emphasis on Arctic infrastructure and resource development, which are expected to drive demand for specialised maritime services in the coming years.
In summary, the acquisition of Horizon Maritime by Chouest Group is a landmark development for Canada’s offshore and Arctic maritime sectors. By combining Horizon’s local expertise with Chouest’s global capabilities, the deal not only ensures continuity for existing clients and projects but also sets the stage for significant growth and innovation in one of the world’s most challenging operational environments.
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