Thursday, April 23, 2015

DOJ Clears Horizon Lines Acquisition

By Mark Edward Nero

The US Department of Justice has cleared The Pasha Group’s acquisition of the Hawaii trade-lane business of Horizon Lines Inc., which paves the way for an anticipated final closing before the end of the second quarter, Pasha Group revealed April 23.

Horizon announced in November 2014 that it has agreed to sell its Hawaii operations to the Pasha Group for $141.5 million.

Upon closing, Pasha Hawaii, a wholly owned subsidiary of the family-owned global logistics company, is expected to assume operations for all of Horizon’s Hawaii business, including Horizon’s four U.S.-flag containerships in the Hawaii trade lane.

In addition to the ships, The Pasha Group is also acquiring Horizon subsidiaries Hawaii Stevedores Inc.; the California-based operations of Sea-Logix LLC, which provides trucking and warehousing services; and Sunrise Operations, a subsidiary that includes Horizon’s vessels and Hawaii-based employees.

Pasha says that after the sale closes, it expects to partner with Crowley Maritime to provide ship management of the vessels and crew through Crowley subsidiary Marine Transport Management Inc.

In becoming part of Pasha, Horizon’s Hawaii business will operate alongside Pasha Hawaii’s existing operations.

“We are excited for the opportunity to welcome Horizon’s Hawaii family of employees to the Pasha team,” President and CEO George Pasha IV said. “I am confident that the combination of our two businesses will allow us to more effectively serve our new expanded customer base.”

Pasha has said it plans to make significant upgrades to the Horizon fleet, that environmental responsibility and stewardship “will continue to be a major part of Pasha Hawaii’s culture and vessel operations,” and that the company plans to stay actively involved with local charities and organizations.