Moody-Price LLC, a Baton Rouge equipment and supplies distributor, has acquired Guico Specialty Co., a Lafayette firm that sells high-pressure industrial equipment.
Terms of the deal were not disclosed.
Danny Daniel Jr., Moody-Price president and chief operating officer, said Guico’s customers are mainly deepwater, oil and gas companies, with some in the chemical industry.
Moody-Price expects the deal to increase sales of Parker Autoclave Engineers products.
“They’re a one-man shop out of Lafayette, and we’ve got offices throughout the South,” Daniel said.
Moody-Price has offices in Baton Rouge, Houma, Lafayette, Lake Charles, New Orleans, Shreveport; Birmingham, Decatur and Mobile, Ala.; Little Rock, Ark.; and Memphis, Tenn.
“We’ll be able to put the product where the customers are. ... They won’t have to wait for it to come from Lafayette,” Daniel said.
Moody-Price’s salespeople live and work in those communities, Daniel said, so the company should be able to increase sales.