PE-backed Gulf Coast Specialty Energy Services buys Frogco

Gulf Coast Specialty Energy Services, a portfolio company of Grey Mountain Partners, has acquired Frogco. No financial terms were disclosed. Based in Houma, Louisiana, Frogco is a provider of amphibious excavation equipment and services.

PRESS RELEASE

June 11, 2015 11:19 AM Eastern Daylight Time

METAIRIE, La.–(BUSINESS WIRE)–An affiliate of Gulf Coast Specialty Energy Services, which is a portfolio company owned by Grey Mountain Partners (“Grey Mountain”), has acquired Frogco Amphibious Equipment, LLC and Frogco Rentals, LLC (collectively, “Frogco” or the “Company”). Headquartered in Houma, LA, Frogco is a leading provider of amphibious excavation equipment and services for a wide range of applications, including coastal restoration, pipeline repair and maintenance, new pipeline construction, power line repair and maintenance, and dredging.

Steve Saucier, CEO of GCSES, said, “Frogco is a first-rate service provider in a unique market, with a reputation for unmatched equipment quality and a customer-centric approach that focuses on providing solutions so projects can be completed in the safest and most cost effective manner. We are thrilled to be partnering with founder Garrett Naquin (‘Frog’) to support the growth of the business while maintaining the stellar reputation and exceptional service levels for which Frogco is known. In affiliation with GCSES, Frogco will enhance its position in the market by joining forces with other GCSES companies that complement Frogco’s existing service offering. The collective companies connected with GCSES can now provide a more full service offering to customers with capabilities that reach from the Gulf of Mexico through the Transition Zone and inland.”

Frog stated, “I am excited to partner with GCSES and believe that being connected with a larger organization will allow Frogco to expand in new ways that will ultimately provide more value to customers. With the support of Grey Mountain Partners and the combined experience and expertise of GCSES, Frogco will accelerate its market reach and open up new opportunities for its employees.”

About Frogco
Frogco is a leading provider of amphibious excavation equipment and services for a wide range of applications, including coastal restoration, pipeline repair and maintenance, new pipeline construction, power line repair and maintenance, and dredging. Frogco primarily specializes in marsh, coastal, swamp, bog, and other wetlands environments, although it also works in mud and firmer on-land terrain. The Company manufactures its own amphibious equipment, which it leases together with its trained operators to customers. Frogco is headquartered in Houma, LA. To learn more about Frogco, please visit www.frogco-amphibious.com.

About Gulf Coast Specialty Energy Services
Gulf Coast Specialty Energy Services is a collection of independent but related companies backed by Grey Mountain Partners. GCSES and its affiliated companies are actively investing in and acquiring additional businesses that are synergistic with its existing operations, Triton Diving, Specialized Environmental Resources, and Frogco, and who 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.