Petroleum Service Corp., a Baton Rouge-based subsidiary of Geneva, Switzerland-based SGS that sells inspection, testing and certification services to the petrochemical industry was sold to private equity firm in a $335 million deal.
The company was sold to Aurora Capital Partners of Los Angeles, which describes itself as a business that targets companies to manage valued between $100 million to $500 million.
Petroleum Service Corp. was founded in 1952 and acquired by SGS in 2004. The subsidiary had about 3,500 employees across the country, including more than a dozen locations across Louisiana from Lake Charles to Shreveport. Its employees often work inside of customer sites at refineries, chemical plants and warehouses.
Roughly 1,200 employees work at customer locations in the Baton Rouge metro area in addition its office at 725 Main St.
Petroleum Service Corp. is expected to move out of its downtown office and into a $2.75 million new building at 6700 Jefferson Highway by March.
In 2013, Aurora Capital Partners acquired National Technical Systems, another inspection and certification business for industries such as aviation, telecommunications and nuclear.
"I believe that Aurora’s company culture is an excellent fit with (Petroleum Service Corp.), and that the investment they will be making in our company will help to accelerate our growth potential...and create new career opportunities," said Joel Dickerson, CEO of Petroleum Service Corp. in an email.
The developer of the 6700 Jefferson office park has broken ground on the final phase, a 27,000-square-foot building that will house SGS Petrol…