Crest Industries, a Pineville industrial services and supply company, has acquired Geismar-based Optimal Field Services and plans to make a $2 million capital investment into the firm.
Gov. John Bel Edwards and Crest Industries CEO Kenneth Robison announced the acquisition and capital expenditures plan today. The financial terms of the deal were not disclosed.
Optimal Field Services provides turnkey turnaround services for multiple industries, including the petrochemical and paper-processing industries.
“This acquisition supports our strategy related to the expansion of Crest Industries’ portfolio of services,” Robison says in a statement. “…Optimal Field Services is a strong strategic and cultural fit for the Crest Industries family of businesses and will contribute positively to our continued growth.”
Since 2013, Crest Industries has completed four expansions and acquisitions, moves that created 180 new direct jobs, 220 indirect jobs and retained 550 existing jobs, Edwards says in a statement.
“This is a story we love to tell: How an electrical supply company started by Tucker Robison from the trunk of his car in 1958 has become one of the leading private-sector success stories in Louisiana through hard work, determination, great employees and dedication to getting the job done right for customers on an international level,” Edwards says of Crest Industries.
Crest Industries is the parent company for several businesses in Louisiana, has an office in San Diego and has a production company in Vancouver, Washington.
“The strength of the Crest Industries foundation and its leadership team will be the catalyst for Optimal Field Services to emerge and become the go-to turnaround company in the refining, petrochemical and chemical markets,” says Optimal Field Services President Andre Folse, who will stay on along with other key executives, in a statement.
