Harvey Gulf Commits $200MM for Worldwide Expansion
Harvey Gulf announced that, with the support of its majority owner, The Jordan Company, L.P., a New York based private equity firm with over $5 billion of capital under management, it will commit $200 million for the construction of new vessels and acquisition of existing vessels. This capital will be used to support its worldwide expansion of services for Harvey Gulf’s deepwater operations.
This commitment comes during a downturn in the marine and oilfield support industries and at a time when financing is difficult to obtain and expensive for all industries. According to Shane J. Guidry, Chief Executive Officer of Harvey Gulf, "We partnered with Jordan to ensure that Harvey Gulf has the resources to continue to provide the vessels and services that meet the requirements of our customers as they evolve. With Jordan's support, Harvey Gulf can now explore opportunities worldwide that would not have otherwise been feasible."