HOUSTON--(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.