High Quality Content by WIKIPEDIA articles! Merritt-Chapman & Scott, nicknamed "The Black Horse of the Sea", was a noted marine salvage and construction firm of the United States, with worldwide operations. The chief predecessor company was founded in the 1860s by Israel Merritt, but a large number of other firms were merged in over the course of the company`s history. It was taken over in the 1950s by famed corporate raider Louis E. Wolfson. It ceased operation in the late 1960s or early 1970s.