Founded by Wayland T. Coppedge Jr. The Company was based in Jacksonville, Florida. Coppedge also owned White Stack Towing that was also based in Jacksonville, Florida.

In 1976, the Florida Towing Company was acquired by the Moran Towing Company of New York, New York.

In 1978, Coppedge's other enterprise the White Stack Towing Company. Was acquired by the Turecamo Coastal and Harbor Towing Corporation of New York, New York.