Gulf Coast Specialty Energy Services, which is backed by Grey Mountain Partners, has bought Specialized Environmental Resources. No financial terms were disclosed. Headquartered in Carencro, Lousiana, SER is a provider of geotechnical and environmental drilling, environmental remediation, amphibious excavation and marine transportation.
METAIRIE, La.–(BUSINESS WIRE)–Gulf Coast Specialty Energy Services, LLC (“GCSES”), an affiliate of Grey Mountain Partners (“Grey Mountain”), has acquired Specialized Environmental Resources, LLC (“SER” or the “Company”). Headquartered in Carencro, LA, SER is a leading service provider of geotechnical and environmental drilling, environmental remediation, amphibious excavation, and marine transportation in logistically difficult marine environments.
Steve Saucier, CEO of GCSES, said, “The Company has developed a unique offering and superior safety record that are unmatched in the industry. We are excited to partner with founders Scotty and Valerie Broussard to grow SER by opening up new opportunities for the business and by addressing additional customer needs. We believe the financial backing and operational support from GCSES, including its relationship with Triton Diving Services, LLC (‘Triton’), will allow us to better serve our customers by expanding our reach from the Gulf of Mexico through the Transition Zone.”
Scotty Broussard stated, “I am looking forward to working with the management team at Gulf Coast Specialty Energy Services and Grey Mountain Partners to continue to supply our customers quality geotechnical and transition zone services and help facilitate the growth of Gulf Coast Specialty Energy Services to provide a full range of oil and gas field services for our clients.”
About Specialized Environmental Resources
SER is a leading service provider of geotechnical and environmental drilling, environmental remediation, amphibious excavation, and marine transportation in logistically difficult marine environments. These areas include wetlands, swamps, bayous, rivers, and other inland and near-shore bodies of water inaccessible to conventional drilling and excavation equipment. SER has completed more than 1,000 projects since its founding in 2004. The Company has a fleet of more than 50 vessels including: marsh buggy drills, marsh masters, amphibious marsh buggy excavators, ski barges, crewboats, and airboats. SER is headquartered in Carencro, LA.
About Gulf Coast Specialty Energy Services
Gulf Coast Specialty Energy Services is a holding company backed by Grey Mountain Partners and comprised of independent but related oilfield services companies. GCSES is actively investing in and acquiring additional businesses that are synergistic with its existing operations, Triton Diving and Specialized Environmental Resources, and that meet the GCSES requirements for maintaining an industry-leading safety record. The long-term growth strategy centers on increasing and enhancing the collective capabilities of the acquired companies in order to provide its customers with a full suite of services.
About Grey Mountain Partners
Grey Mountain Partners is a Boulder, CO-based private equity firm that focuses on partnering with management teams to create lasting value through operational improvements and by supporting strategic growth initiatives. Grey Mountain invests at the small end of the middle-market in companies across a wide range of industries and has approximately $700 million of assets under management.
For additional details on the transaction, to discuss new investment opportunities, or to learn about Grey Mountain’s Executive Sponsorship Program, please contact Ben Ault. For more information about Grey Mountain Partners, please visit www.greymountain.com.