Mergers and Acquisitions

Petroleum Service Corporation Acquires Fryoux Tankerman Service

Petroleum Service Corporation (PSC), a Baton Rouge, La.-based provider of tankerman and product handling and logistics services for the marine transportation, terminal, chemical and refining industries, has announced its acquisition of Fryoux Tankerman Service, a shoreside tankerman company with operations along the Gulf Coast region.

The acquisition was announced December 15, 2020.

Both companies are longtime leaders in the shoreside tankerman business. Fryoux was started in 1967, with PSC dating all the way back to 1952. As part of the acquisition, Fryoux president Jimmy Fryoux will join PSC as an adviser, with many of Fryoux’s employees joining PSC as well.

“Like PSC, Fryoux has a long-standing reputation for quality service, safety and environmental protection,” said PSC CEO Joel Dickerson, “and their experience and expertise will serve as excellent supplements to our existing capabilities. We welcome Jimmy and the rest of the Fryoux team to PSC and look forward to leveraging our enhanced footprint to better serve our customers.”

That enhanced footprint is mainly between Houston and Pensacola, Fla., where Fryoux’s operations were based, PSC Vice President of Marine Operations Josh Dixon said.

“The acquisition of Fryoux Tankerman Service furthers our commitment to providing a steady supply of professional, well-trained tankermen to meet the needs of our customers,” Dixon said. “Tankermen staffing shortages can create costly supply chain delays, and with the combination of these two industry leaders, our customers can rest assured knowing PSC is ready to answer the call whenever and wherever a tankerman is needed.”

Dixon added that the Fryoux employees that came over to PSC were seamlessly integrated within the team in their operating areas, which made for a smooth transition for customers.

“This was done to ensure that Fryoux’s customer base did not experience any service delays or interruptions,” Dixon said.

Jimmy Fryoux, who was a third-generation leader of Fryoux Tankerman Service, said his former employees will find plenty of opportunity within their new company.

“PSC’s track record of success and service excellence is unmatched in the industry,” Fryoux said. “With the size and scope of the company’s marine and plant operations, I’m excited about the opportunities our employees will have moving forward as members of the PSC family.”

Petroleum Service Corporation has more than 3,500 employees that work at more than 125 refineries, terminals and chemical plants across North America. The company maintains an office in Baton Rouge and four in Texas: one in Corpus Christi, two in Pasadena and one in Port Arthur. Petroleum Service Corporation is a portfolio company of Aurora Capital Partners, a private equity firm.