Gulf Coast Specialty Energy Services LLC, a holding company backed by private equity firm Grey Mountain Partners, has acquired Specialized Environmental Resources LLC, a Carencro-based oilfield service company whose specialties include amphibious excavation and marine transportation in spots that conventional drilling equipment can’t reach.
Terms of the deal were not disclosed.
Gulf Coast Specialty’s financial backing and operational support, including its relationship with Metairie-based Triton Diving Services LLC, another Grey Mountain affiliate, will expand Gulf Coast’s reach from the Gulf of Mexico through the very shallow waters of the transition zone, said Gulf Coast Specialty Chief Executive Officer Steve Saucier.
Specialized Environmental provides geotechnical and environmental drilling services and environmental remediation. The company specializes in projects in wetlands, swamps, bayous, rivers and other inland and near-shore bodies of water. Specialized has completed more than 1,000 projects since it was founded in 2004 by Scotty and Valerie Broussard. The Broussards will remain with the company.
Gulf Coast Specialty Energy Services is a holding company comprised of independent but related oilfield services companies.
Grey Mountain invests at the small end of middle-market companies and has roughly $700 million of assets under management.