LAFAYETE, La. (AP) — All Coast LLC of Houston has bought 39 liftboats and the boats' operations center in Lafayette from Hercules Offshore Inc., also of Houston.
All Coast is paying about $54.5 million for 29 operating liftboats, 10 inactive liftboats and related assets, according to a news release on Hercules' website. Hercules will keep existing working capital in its domestic liftboat segment — about $7.3 million as of May 31, the announcement said.
The division has more than 250 employees, including management, mechanics, warehouse and offshore workers. Its head, Byron Allemand of Lafayette, is now as All Coast's vice president and chief operating officer.
John Powers and John Nesser III created All Coast for the purchase. "We expect to grow All Coast and expand our fleet with new acquisitions and new builds," Nesser said.
Powers has owned and operated energy and marine services companies including Powers Offshore Services LLC, Reeled Tubing LLC, Seatrax LLC and Coastal Drilling. Nesser served as executive vice president and COO of McDermott International.
"John and I have been looking for the opportunity to re-enter the liftboat industry as owners and operators for several years," Nesser said.
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