Business acquisition for Suretank
Suretank has acquired a majority ownership stake in Louisiana based manufacturer AmGulf Fabrication, LLC.
The firm, which is known for providing engineered solutions to the offshore oil and gas industry, will immediately re-brand AmGulf as Suretank USA.
Suretank acquired a minority shareholding of AmGulf in 2013 and has developed a strong working relationship with the company offering its full range of DNV 2.7-1 certified offshore tanks and cargo carrying units (CCUs) from the company’s state of the art facility in Houma, Louisiana.
John Fitzgerald, Suretank CEO, said: “In pursuing our long-term strategy to build local in markets worldwide we are continuously looking for companies that help us to achieve this goal.
“The US is a significant growth market for Suretank and having in-market manufacturing and equipment deployment is extremely important to maintaining customer service excellence.”
“We are confident that we have found the right company with AmGulf Fabrication and we are excited about the prospects that taking our investment in this business to the next level will bring. Furthermore we intend developing and building additional specialist products in the USA such as wire-line, well intervention and pumping systems,” John continued.
AmGulf Fabrication was established in 2012 by Lawrence Detiveaux and Jason Underwood.
Commenting on the investment Lawrence Detiveaux, Chairman at Suretank USA, said: “This is a great opportunity for the business, our employees and our customer base. The company was set up on the business principles of Suretank so we are already closely aligned with Suretank’s business ethos. We have established a strong reputation for delivering high quality products and custom engineering solutions and the business continues to go from strength to strength. We are excited that Suretank recognises the potential we have to offer them in the US market and are looking forward to the future.”
Going forward Jason Underwood takes up the role of Managing Director, Suretank USA and will be responsible for the day to day operations of the business reporting directly to John Fitzgerald.
Suretank is a global leader in the supply of tanks and CCUs (Cargo Carrying Units) to the offshore oil and gas industry. The company has design and manufacturing facilities in Ireland, Brazil, China, the Netherlands, Poland, Thailand, UK and USA as well as sales offices in Australia, Malaysia, Nigeria and Norway.
For more information, visit http://www.suretank.com
