LAFAYETTE — National private equity firm Lariat Partners is forming a new company in Lafayette with a merger of Abbeville-based Offshore Cleaning Systems LLC and Houston-based offshore waste disposal firm Newpark Environmental Services LLC.
The deal is expected to be executed within 30 days and create up to 100 new jobs in Acadiana. Terms of the deal were not disclosed by Denver-based Lariat Partners.
Executives said the merger creates a unique integrated, turnkey environmental cleaning and waste disposal services provider.
In addition to its Lafayette headquarters, Ecoserve will operate out of 14 locations throughout the Gulf Coast and Permian Basin of West Texas.
Kenny DesOrmeaux, founder and CEO of Offshore Cleaning Systems, will become CEO of Ecoserv.
“Ecoserv uses applied science to provide the safest and most environmentally friendly way of managing oilfield refuse. By combining the efforts of these two industry innovators, we have the scale, breadth and capabilities to offer a streamlined and hyper-compliant waste disposal system,” DesOrmeaux said. “We’re pioneering a solution that includes EPA-approved processes but takes them a step further.”
“Lariat’s strategy for all of its investments is to enhance value for our customers, and the formation of Ecoserv accomplishes that in every way,” said Lariat Managing Partner Kevin Mitchell.
Gregg Gothreaux, president and CEO of the Lafayette Economic Development Authority, said the merger of the two companies in Lafayette demonstrates Lafayette’s position as the hub for energy service companies in the southeast U.S.