All Coast completes liftboat acquisition - KLFY News 10

All Coast completes liftboat acquisition

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LAFAYETE, La. (AP) - All Coast LLC of Houston has bought 39 liftboats and the boats' operations center in Lafayette from Hercules Offshore Inc., also of Houston.

Hercules says on its website that All Coast is paying about $54.5 million for 29 operating liftboats, 10 inactive liftboats and related assets. It says Hercules will keep existing working capital in its domestic liftboat segment - about $7.3 million as of May 31.

The division has more than 250 employees, including management, mechanics, warehouse and offshore workers. The operations will continue to be led by Byron Allemand in Lafayette as vice president and chief operating officer.

John Powers and John Nesser III created All Coast for the purchase.

Nesser says he and Powers have been looking for a chance to own and operate liftboats.

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