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Jordan Co. Buys Harvey Gulf For $500 Million
Harvey Gulf tows off-shore drilling rigs and also provides diving support vehicles for deepwater energy operations in the Gulf of Mexico.
July 21, 2008
The Jordan Co. said Monday that it has agreed to acquire marine transportation company Harvey Gulf International Marine for $500 million.
The New York private equity firm is acquiring 76% of the Harvey, La.-based energy services company, leaving the remainder in the hands of management and co-owners Shane Guidry, who will serve as the company’s chief executive, and Shawn Guidry in a transaction slated to close in 30 days. Additional details of how the transaction would be financed were not released.
A third generation family business born 53 years ago, Harvey Gulf tows off-shore drilling rigs and also provides diving support vehicles for deepwater energy operations in the Gulf of Mexico. Its service offerings include construction, surveying, offshore and sub-sea construction, as well as pipeline repair.
Shawn Guidry will serve as executive vice president and chief operating officer, while Robert Gwinn has been promoted to president and chief sales officer.
“The forward-thinking company strategy which Harvey Gulf has carried out for over half a century has proven to be a success year after year,” said Richard Caputo, managing partner of The Jordan Co., in a statement.
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