Offshore staff
ABERDEEN, UK -- Superior Energy Services Inc. has acquired Duffy & McGovern Accommodation Services for $47 million.
As a result, Duffy & McGovern will be investing $15 million to accelerate its fleet growth. The company will be building 100 new offshore accommodation modules over the next six months and is stepping up its presence in Southeast Asia.
Superior intends to retain the name and independence of Duffy & McGovern, except in the United States where the company will now operate under the name of HB Rentals.
"This acquisition gives us immediate exposure to new rental markets around the world and further broadens our international reach," says Terence Hall, chairman and CEO of Superior Energy. "We will use capital, our experience in the accommodation business, and our diverse service offering to help Duffy & McGovern, which already has well established global operations and relationships, to realize its growth potential and extend our own reach for other rental products and intervention services."
01/25/2007
