While the outside world might have been surprised by an announcement late last month that Lockport-based Bollinger Shipyards has been acquired by the company’s chief operating officer, Ben Bordelon, and the family that owns Galliano-based Edison Chouest Offshore, folks in the industry who live and work down the bayou have been buzzing about a possible sale since last summer.
As Business Report details in a feature from the current issue, now that the cat is officially out of the bag, industry experts are weighing in on what the deal will mean for south Louisiana. Early indications suggest the sale, terms of which were not disclosed, is the proverbial win-win—for Bollinger clients, Chouest and the state overall.
“I think it will be a very positive thing,” says Don Briggs, president of the Louisiana Oil and Gas Association. “You’ve got a good team in place, and nothing should change.”
Heading the team is Bordelon, who takes over as chairman, president and CEO from his uncle, Donald “Boysie” Bollinger. Bordelon is a third-generation Bollinger—his grandfather started the company—and he has held a variety of positions in the C-suite, including serving on the company board of directors since 2002.
Experts say the combined Bollinger-Chouest company will be a powerhouse in the maritime industry. Bollinger Shipyards is the largest vessel repair firm in the Gulf, with 10 shipyards stretching from New Orleans to Houston, and is a major builder of Coast Guard cutters. The company’s 30 dry docks specialize in making rapid repairs to vessels that serve the offshore oil industry.
Together, the two companies will have a large share of the market covered, with a combined workforce of more than 13,000 employees.
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