EPIC Offshore Specialty, LLC Has Agreed to Acquire the Offshore Services Division of TETRA Technologies, Inc.
March 01 2018 - 7:00AM
Business Wire
EPIC Offshore Specialty, LLC (EPIC) is pleased to announce it
has agreed to acquire the entire Offshore Services division of
TETRA Technologies, Inc. (NYSE: TTI) (TETRA). Specifically, the
businesses to be acquired are the diving (EPIC Diving and Marine
Services), heavy lift, specialized cutting (EOT Cutting Services),
rigless well P&A, and consulting (TSB Offshore) businesses of
TETRA. These businesses provide offshore decommissioning,
construction, installation and maintenance services to customers in
the U.S. Gulf of Mexico and other markets.
At the close of this transaction, EPIC will become an
independent company backed by a $1.0 billion private company. EPIC
will retain the same leadership, employees, assets, quality and
safety standards, as well as all certifications.
“We are excited about our new ownership and what this means for
the future of our company. Serving our customers in the offshore
decommissioning and construction sector will remain our foundation.
In addition, we will have the capabilities to offer a broader range
of products and services and a more extensive geographic reach,”
said Peter Pintar, CEO of EPIC. Pintar further stated, “We have
always been committed to safety and service excellence; that will
not change.”
EPIC will continue to operate from the existing facilities in
The Woodlands, TX, Belle Chasse, LA, Houma, LA, Broussard, LA and
Port Fourchon, LA., as well as maintain the operation of major
assets including the Derrick Barge Hedron (1763T), the Derrick
Barge Arapaho (800T) and the Saturation Diving Vessel, Epic
Explorer.
With the completion of this acquisition, EPIC will become a
full-service provider to the global decommissioning, installation
and maintenance market. EPIC, formerly TETRA Offshore Services,
will continue to be known for environmental stewardship, customer
service, outstanding safety and operational excellence.
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version on businesswire.com: http://www.businesswire.com/news/home/20180301005415/en/
EPIC Offshore SpecialtyBryan Blum,
281-364-4366bblum@tetratec.com
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