LongueVue Capital Partners II, LP Completes Investment in Jackson Offshore Holdings, LLC.
Common Equity and Subordinated Note Financing to Build Four New Generation Platform Supply Vessels To Support Offshore Oil and Gas Operations in the Gulf of Mexico
New Orleans (January 27, 2014) - LongueVue Capital (“LVC”), a New Orleans-based private equity firm, announced today it has completed its investment in Jackson Offshore Holdings, LLC (“Jackson Offshore”), an owner of supply vessels and provider of marine transportation services for exploration, development and production activities in support of the offshore oil and gas industry in the Gulf of Mexico. The investment was made through a combination of common equity and subordinated debt. LVC initially invested in Jackson Offshore in October 2012 and recently completed the third round of its investment.
Formed in 2011, Jackson Offshore Holdings, LLC is the owner, operator and marketer of two Fast Crew/Supply Vessels (“FCSVs”) that have been in service in the Gulf of Mexico for three years. The Company also entered into Letters of Agreement with two major oil and gas companies for the charter of four Platform Supply Vessels (“PSVs”) for multiple years following delivery. The proceeds of LVC’s investment, together with other debt and equity financing, are being used to finance construction of the four new PSVs, which will be completed and placed into operation beginning later this year.
Jackson Offshore Operators, LLC is primarily focused on providing innovative, technologically advanced, high specification marine solutions to meet the evolving needs of the Deepwater and Ultra-deepwater energy industry in the Gulf of Mexico. Jackson Offshore’s management team is led by Lee Jackson, CEO and Chairman; Matthew Rigdon, President; James Harkness, Chief Financial Officer; and Larry Rigdon, former CEO and Chairman of Rigdon Marine Corporation serving as an advisor to the Jackson management team. The management team has over 100 years of combined knowledge and experience in vessel operations in the Gulf of Mexico and other energy support markets.
“We are very impressed with the Company’s business model and management’s established track record of growing vessel fleets through new construction and securing profitable long-term contracts,” said Rick Rees, Co-Founding Partner of LongueVue Capital and board member of Jackson Offshore. “We look forward to forming a partnership with Jackson Offshore and its strong management team.”
“We are excited about our partnership with LongueVue as we continue to build our fleet of next generation Platform Supply Vessels,” said Lee Jackson, President and CEO of Jackson Offshore. “We look forward to continuing to build our fleet as well as our track record for superior service and operational excellence.”
About LongueVue Capital:
Founded in 2001, LongueVue Capital is a New Orleans-based private equity firm that focuses on providing human capital, financial capital, and a skill set built upon a successful 18-year track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies. Having managed over $500 million of capital spanning three funds coupled with 150 years of combined operating and investing experience, our team is the ideal partner for middle market companies at inflection points and seeking to maximize value.
Our opportunistic investment strategy provides the flexibility to partner with attractive businesses across a variety of industries and situations, and we tailor transaction structures to meet the company and stakeholders’ objectives. While we are selective with our investment strategy, we target growth-oriented companies with scalable, sustainable business models and exceptional leadership teams.
Our proactive, hands-on approach enables us to be thoughtful stewards of our portfolio companies and trusted and dependable strategic partners to all stakeholders. Together with our entrepreneur and management team partners, we help create superior value for our portfolio companies and investors.
To learn more about LongueVue Capital, please visit our website at www.lvcpartners.com.
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