OEG Offshore, a provider of cargo carrying units (CCUs) and A60 modules to the oil and gas industry, has merged its US business with long established Louisiana based cargo unit and logistics specialist Paragon Industries, Inc.
The multi-million dollar merger confirms the combined OEG business as one of the leading offshore container suppliers serving the Gulf of Mexico. The deal expands OEG’s US fleet by over 1,400 units and includes a number of new container designs as well as extending OEG’s current Gulf Coast presence to a number of new full service locations. All of Paragon’s 14 staff will join with OEG’s US based employees.
Paragon President & CEO, Leonard J. Guarisco, Jr said “Paragon Industries is confident that its merger with OEG Offshore will result in a new, united ability to offer an increased breadth and depth of complimentary product offerings and service capabilities to meet our customers’ requirements. This merger will not only support ongoing working relationships with our existing customer bases, but will provide a more efficient and effective enterprise to continue to provide and improve its quality level of service across a broader scope of needs.”
Founded in 1987 by Leonard J. Guarisco, Snr., father of the current Paragon President & CEO, Leonard J. Guarisco, Jr., Paragon has serviced the Gulf coast’s day-to-day cargo movements between land and sea from its principal facility in Morgan City as well as multiple stocking yards covering the whole US Gulf Coast from Texas to Alabama.
OEG Offshore Chief Executive John Heiton said “We are delighted to align with Leonard and the Paragon team to develop our product range in the US Gulf of Mexico market and believe that with the similar culture and service ethos of OEG and Paragon that we shall achieve a rapid integration of the two companies and provide rapid benefits to our expanded customer base.”
OEG Offshore’s range of over 27,000 DNV 2.7-1 containers, baskets, cuttings and waste skips, workshops and offshore tanks as well as A60 engineering cabins are available worldwide across the 35 countries where OEG Offshore operates. OEG Offshore offers its full range of equipment, as well as bespoke design service for customised requirements, with a variety of flexible purchase or funding options including a fully managed rental, long term lease, lease purchase or outright sale basis.
OEG Offshore has continued its growth strategy through the industry downturn with ongoing expansion into new geographic and product offerings as it expands operations across Europe, Africa, Middle East, Caspian, Asia as well as the Americas. Recent acquisitions include the AOR Container Group in 2016, opening up Norway and other African regions as well as Cameron Rental & Tank in 2015, developing the US cargo unit market.