Houston-based Gulf Island Fabrication has reached an asset purchase agreement with LEEVAC Shipyards top acquire all of LEEVAC’s assets for a price of $20m.
The deal includes leasehold interests at LEEVAC’s Louisiana marine fabrication facilities in Jennings and Lake Charles and all of LEEVAC’s machinery and equipment.
Kirk Meche, president and CEO of Gulf Island, commented: “the acquisition of the LEEVAC assets further diversifies our business, enhances our marine fabrication and maintenance and repair capabilities, and provides our company with facilities in key strategic locations of Lake Charles and Jennings, Louisiana.”
Gulf Island Fabrication is a leading fabricator of offshore drilling, production platforms, hull and deck sections for floating production platforms.
The transaction would provide an incremental contract backlog of around $112.0m.
