Petroleum Service Corporation, a Portfolio Company of Aurora Capital Partners, Announces Acquisition of Fryoux Tankerman Service

BATON ROUGE, La., Dec. 15, 2020 /PRNewswire/ -- Petroleum Service Corporation ("PSC"), a North American leader in tankerman services, product handling and site logistics for the petrochemical and refining industries, today announced that it has signed an agreement to acquire certain assets from Fryoux Tankerman Service ("Fryoux"), a premier shoreside tankerman company.

Based in Norco, Louisiana, Fryoux has been serving customers along the U.S. Gulf coast since 1967 when it was founded as the second shoreside tankerman service, behind PSC.  As part of the transaction, PSC will absorb Fryoux's tankerman operations along the Gulf Coast.  Jimmy Fryoux, President of the third-generation, family-owned company built by his grandfather and father, will join PSC's marine operations team as an advisor.

"Like PSC, Fryoux has a long-standing reputation for quality service, safety and environmental protection, and their experience and expertise will serve as excellent supplements to our existing capabilities," said PSC CEO Joel Dickerson.  "We welcome Jimmy and the rest of the Fryoux team to PSC and look forward to leveraging our enhanced footprint to better serve our customers."

"The acquisition of Fryoux Tankerman Service furthers our commitment to providing a steady supply of professional, well-trained tankermen to meet the needs of our customers," said PSC Vice President of Marine Operations Josh Dixon.  "Tankermen staffing shortages can create costly supply chain delays, and with the combination of these two industry leaders, our customers can rest assured knowing PSC is ready to answer the call whenever and wherever a tankerman is needed."

"PSC's track record of success and service excellence is unmatched in the industry," said Fryoux.  "With the size and scope of the company's marine and plant operations, I'm excited about the opportunities our employees will have moving forward as members of the PSC family."

About Petroleum Service Corporation
For more than 65 years, Petroleum Service Corporation has been committed to safely and efficiently meeting the product handling and site logistics needs of the leading companies in the refining, chemical, and marine industries.  The company's 3,500+ employees serve at more than 125 refineries, terminals, and chemical plants across the U.S., Mexico and Canada.  They are leaders in tankering barges, operating terminals and docks, railcar repair and switching, warehousing, and loading/unloading of railcars and trucks with a variety of oil products and chemicals.

About Aurora Capital Partners
Aurora Capital Partners is a leading private equity firm focused principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management.  Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora's investors include leading public and corporate pension funds, endowments and foundations active in private equity investing.  For more information about Aurora Capital Partners, visit: www.auroracap.com. 

Petroleum Service Corporation Media Contact:
Lisa Comeaux, Communications Manager
Phone: 225-343-8262 ext. 265
Email: lisa.comeaux@petroleumservice.com

Aurora Capital Partners Media Contact: 
Steve Bruce / Taylor Ingraham
ASC Advisors
Phone: 203-992-1230
Email: sbruce@ascadvisors.com / tingraham@ascadvisors.com

SOURCE Petroleum Service Corporation

Related Links
https://www.petroleumservice.com