Diversified Energy Services, a portfolio company of Grey Mountain Partners, has acquired Frogco Amphibious Equipment and Frogco Rentals, providers of amphibious excavation equipment and services.
Frogco’s equipment and services are used in a 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 southwest of New Orleans in Houma, LA (www.frogco-amphibious.com).
“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,” said Steve Saucier, CEO of Diversified Energy Services. “We are thrilled to be partnering with founder Garrett Naquin to support the growth of the business while maintaining the stellar reputation and exceptional service levels for which Frogco is known.”
With this acquisition, Grey Mountain – through its portfolio companies Gulf Coast Specialty Energy Services and Diversified Energy Services – owns companies which are collectively able to provide a broad set of technical services to customers that span from the Gulf of Mexico through the Transition Zone and inland.
Grey Mountain Partners invests up to $75 million in control acquisitions of companies with enterprise values between $30 million and $150 million. Sectors of interest include aerospace & defense, building products & materials, business process outsourcing, diversified manufacturing, energy & power, financial services, food & beverage, healthcare services & technology, industrial services, packaging, professional services, specialty chemicals, technology, transportation & logistics, wholesale and distribution. Grey Mountain was founded in 2003 by Managing Partners Rob Wright and Jeff Kuo and is based in Boulder with an additional office in Minneapolis and Pittsburgh (www.greymountain.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 6-15-15
