ENCORE DREDGING BACKED BY AV CAPITAL ACQUIRES THE DREDGING DIVISION ASSETS OF RLB CONTRACTING
ACQUISITION EXPANDS ENCORE AS A PREMIER DREDGING AND MARINE INFRASTRUCTURE SERVICES PLATFORM
HOUSTON--(PR Distribution)—April 19, 2021—Encore Dredging Partners, LLC ("EDP"), a premier specialty dredging and marine infrastructure services firm backed by its sole financial sponsor AV Capital, today announced its acquisition of the dredging division assets of RLB Contracting (“RLB”).
EDP has acquired substantially all the dredging division assets and associated equipment of RLB. Additionally, EDP will hire the existing RLB dredging crews and related maintenance personnel. EDP was founded to be the premier mid-sized cutter suction and mechanical dredging services provider focusing on navigable waterways throughout the United States. Today’s announcement further expands EDP’s maintenance dredging fleet and provides additional capacity for continuous operations in the Texas market. EDP’s partnership with AV Capital continues to support its growth-oriented platform poised for additional expansion of its dredging and marine infrastructure services throughout the U.S.
Beginning in 2010, RLB added dredging services to its existing business through the initial acquisition of what is today the Cutter Suction Dredge (“CSD”) Jonathan King Boyd. RLB further expanded its dredging fleet in 2018 with the acquisition of the CSD Eagle One and has been a provider of maintenance dredging services to both private and public customers primarily in the Texas market. The RLB dredging division assets provide a solid platform for EDP’s ongoing maintenance dredging in Texas and throughout the Gulf Coast. Additionally, EDP is acquiring the CSD Pat Lundin portable dredge and RLB’s off-loader capabilities.
“The acquisition of the RLB dredging division assets is key to the continued strategic expansion of EDP’s fleet, capabilities, and geographic reach,” said Dwayne Breaux, EDP’s Chief Executive Officer. “We are excited to add these productive assets to our existing fleet and to attract experienced dredge operating and maintenance crews to our outstanding team. With this acquisition EDP will establish its Coastal Division based in Texas to serve public and private customers throughout the Gulf Coast.”
“AV Capital is excited about the continued expansion of the EDP platform,” said Vernon Bryant, Managing Partner of AV Capital. “We continue to partner with the EDP management team seeking opportunities to expand our dredging and marine infrastructure services platform and to provide top quality operations with a focus on customer service and safety.”
About Encore Dredging Partners
Encore Dredging Partners (“EDP”) was founded to be the premier mid-sized cutter suction and mechanical dredging services provider focusing on navigable waterways throughout the United States. With over 75 years of combined dredging and marine infrastructure services experience in the leadership team, EDP has the experience and capability to deliver quality services to its diverse client base of private owners and government agencies with a high degree of integrity and accountability. Additionally, EDP is committed to creating a safe work environment by setting high personal standards of safety performance and is committed to creating an injury free workplace every day.
About AV Capital
AV Capital is an Austin-based private equity firm that makes control investments in entrepreneur and family-owned middle market companies. AV Capital invests in niche manufacturing, specialty distribution, and business services companies across a variety of end markets. AV Capital’s strategy is to partner with talented management teams to transition closely held middle market companies to institutional ownership and accelerate growth. As relationship-oriented investors, AV Capital brings a patient approach and a long-term investment perspective to building market leading companies. Business owners have chosen to partner with AV Capital because of its strong values and culture, its extensive investment experience and network of relationships, and its history of success in supporting management teams to grow outstanding middle market companies. For further information about AV Capital, please visit www.av.capital.
Encore Dredging Partners, LLC.
Chris DeAlmeida, Chief Financial Officer
Source: Encore Dredging Partners. LLC.