US Joiner unveils purchase of Infinity Marine Offshore.
M2 EQUITYBITES-October 4, 2012-US Joiner unveils purchase of Infinity Marine Offshore(C)2012 M2 COMMUNICATIONS http://www.m2.com
4 October 2012 - US Joiner LLC, the US company specialising in interior solutions for marine vessels, has paid an undisclosed amount for Infinity Offshore Marine LLC.
Operating from a base in Houston, Texas, Infinity designs, builds and renovates living quarters and accommodations for the marine and offshore oil and gas industries. The company provides joiner wall systems, electrical, HVAC, plumbing, furnishings and galley equipment and custom millwork. Infinity has also established a presence in Brazil and the acquisition will allow US Joiner to enter that highly attractive market. In addition, the deal will further strengthen its position in the offshore oil and gas sector, which is among the strategic priorities of US Joiner, president Joe Mullen said.
Lloyd Burris and Ray Coats, the former owners of Infinity, will remain in charge of the business, which will become a division of US Joiner. The new owner will use Infinity's Houston office as the base for its Southwest operations. Burris has been appointed general manager of US Joiner Southwest, while Coats is assuming the role of division manager.
Commenting on the transaction, Burris said that becoming part of US Joiner would allow Infinity to expand its business further and keep improving its service offer for the oil and gas market. By joining forces, the two companies will be able to diversify the joiner solutions portfolio available to customers, offering them high quality products, Burris added.
US Joiner received legal advice from Blank Rome LLP and Feil, Pettit & Williams PLC.
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