All Coast, LLC
151 Southpark
3rd Floor
Lafayette, LA 70508
p: 337.560.8000
f: 337.560.8020
 
 
   
All Coast Acquires Hercules Offshore Domestic Liftboats
7/1/2013

All Coast Acquires Hercules Offshore Domestic Liftboats
 
All Coast, LLC, a newly formed company for the marine services industry, founded by John Powers and John Nesser III, has completed the acquisition of the Hercules Offshore Domestic liftboat assets. This acquisition includes 29 actively marketed liftboats ranging from class 105 to class 229, 10 inactive lifeboats, and additional related assets acquired at a purchase price of $57.5 million.
 
Powers and Nesser, All Coast managers and co-CEOs, each have more than 40 years of experience in the oil and gas, engineering and maritime industries.
 
Throughout his career, Powers has owned and operated numerous energy and marine services companies including Power Offshore Services, LLC; Reeled Tubing, LLC; Seatrax, LLC; and Coastal Drilling Co. Previously, Nesser served as the executive vice president and chief operating officer for McDermott International, where he held executive positions for more than 10 years.
 
All Coast domestic operations will be lead by Byron Allemand, Vice President and Chief Operating Officer, and the operations center will remain in Lafayette, Louisiana.
 
Nesser commented that “John and I have been looking for the opportunity to re-enter the liftboat industry as owners and operators for several years. We look forward to the challenge of serving the offshore market with the highest standards of service and safety.” Nesser further noted, “We expect to grow All Coast and expand our fleet with new acquisitions and new builds.”
All Coast, LLC acquire Hercules
Managers and co-CEOs John Nesser III (left) and John Powers (right) make the acquisition announcement to Hercules employees on June 24, 2013.
 
Joining Powers and Nesser in their effort to grow the company is The Fleming Corporation, a private equity investment firm with substantial capital and a long-term perspective on value creation. The new owners are committed to deploying the resources necessary to grow the fleet’s market leading position. Financing for the acquisition and working capital has been provided by Whitney Bank.
 
About All Coast, LLC
 
All Coast owns and operates the largest fleet of liftboats for the offshore oil and gas market in the Gulf of Mexico. All Coast provides high-quality service and an emphasis on safety in all operations

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All Coast, LLC  |  151 Southpark  |  3rd Floor  |  Lafayette, LA 70508  |  p: 337.560.8000  |  f: 337.560.8020

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