Danos Owner and Executive Eric Danos said there are a lot of synergies between his company and Shamrock Energy Solutions. “Both are privately-owned, Louisiana-based and have a similar customer-centric, values-based approach to business,” he said in a statement. (Source: Danos Inc.)
Family-owned Danos Inc. unveiled plans to acquire a privately-held, Louisiana-based oilfield services company that will double the size of Danos’ workforce.
Danos said Feb. 13 it had reached a “tentative agreement” to acquire the assets and business of Shamrock Energy Solutions, a privately-held, 22-year-old oilfield service company. The company added it will retain Shamrock’s team of over 1,000 employees, making it one of the largest service providers in the marketplace, but didn’t disclose the terms of the transaction.
Danos Owner and Executive Eric Danos said there are a lot of synergies between the companies, which are both based in Louisiana with Shamrock headquartered in Houma, La., and Danos nearby in Gray, La.
“Both are privately-owned, Louisiana-based and have a similar customer-centric, values-based approach to business,” Danos said in a statement.
Since forming in 1947 by Allen Danos Sr., Danos has grown over the past seven decades from a small tugboat company to an oilfield service company offering land-based and offshore customers an extensive range of production services, according to the company website.
Currently, the second and third generations of the Danos family are at the helm of the growing organization.
“Danos exemplifies many of the same family-oriented values we’ve established at Shamrock,” said Shamrock Owner and President Jeff Trahan in a statement. “I’m excited to see how the integration of Shamrock’s business into Danos builds upon the foundation of excellence we’ve established when I purchased the business in 2008.”
Danos expects the Shamrock acquisition will expand its portfolio service offerings–production workforce, construction, fabrication, coatings, scaffolding, automation, project management, materials management, shorebase and logistics, and specialized consultants–adding mechanical maintenance, valve and wellhead, regulatory compliance and measurement and power generation.
The deal is also expected to increase the number of Danos employees by nearly 50%, to 3,200 from 2,200.
Danos added, “This strategic investment allows Danos to better meet our customers’ needs through expansion of craftsmen, geographies served and service lines offered.”
The transaction is expected to be effective in March 2019. Closing is subject to certain remaining contingencies, the company said in the release.
Emily Patsy can be reached at epatsy@hartenergy.com.
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