VLS Environmental Solutions Acquires Plaquemine Point Shipyard
Marine services company VLS Environmental Solutions, LLC announced it has acquired barge cleaning and repair yard Plaquemine Point Shipyard (PPSY). Terms of the transaction were not disclosed.
Based in Plaquemine, La., PPSY is located just outside of Baton Rouge and provides full-service barge cleaning and repair along the Mississippi River. PPSY will operate within the VLS Marine Services division, and Wade Grundmeyer, VLS regional vice president of Southeast Louisiana, will run the business reporting to Eddie Van Huis, VLS vice president of marine services.
"We are excited to expand our specialty cleaning and repair services with the acquisition of Plaquemine Point Shipyard," noted John Magee, chief executive officer of VLS, a portfolio company of private equity firm Aurora Capital Partners. "We welcome the outstanding PPSY team to the VLS organization and are excited to utilize our combined strengths to continue providing high quality service to our customers in the region."
"PPSY is a strategic acquisition that expands the geographic offering of our marine services business. VLS Marine has established itself as a leader along the Intracoastal Waterway, and we are excited to build upon that success with a location along the Mississippi River," Van Huis said.
This acquisition marks VLS's eighth add-on acquisition since partnering with Aurora Capital Partners in October 2017.