In 1982, David planned to purchase the tug TITAN as then-named Titan Towing and Salvage’s first floating asset.  Unfortunately, she was bought by another firm before the deal could close.  David’s partner Dick Fairbanks described the event with humor;  “In typical David Parrot fashion, take the failure and name the company after it.”

David continued on to purchase the sister to TITAN, NESTOR, and hired Englishman Guy Wood to captain her.  With this modest beginning, Titan grew into one of the most innovative and respected salvage firms in the industry.