Petroleum Service Corporation, the Baton Rouge-based portfolio company of Aurora Capital Partners, has acquired certain assets from Fryoux Tankerman Service, a shoreside tankerman company headquartered in Norco.
As part of the transaction, PSC will absorb Fryoux’s tankerman operations along the U.S. Gulf Coast. Fryoux has been serving customers along the Gulf Coast since 1967, when it was founded as the second shoreside tankerman service, after PSC.
Meanwhile, Jimmy Fryoux, third-generation president of the family-owned company, will join PSC’s marine operations team as an advisor.
In a prepared statement, PSC Vice President of Marine Operations Josh Dixon says the acquisition will help the company to avoid tankerman staffing shortages, which can create “costly supply chain delays.”
PSC’s 3,500-plus employees serve at more than 125 refineries, terminals and chemical plants across the U.S., Mexico and Canada, tankering barges, operating terminals and docks, repairing and switching railcars, warehousing products and loading and unloading railcars and trucks. Last year, the company—which was founded in 1952 and had been a subsidiary of Switzerland-based SGS since 2004—was sold to a private equity firm, Aurora Capital Partners of Los Angeles, in a $335 million deal.
Earlier this year, PSC moved from its longtime downtown offices to a $2.75 million, 27,000-square-foot building at 6700 Jefferson Office Park.