C-Innovation LLC (C-I), an affiliate of Edison Chouest Offshore (ECO) and its family of companies, said Sept. 28 it has acquired the controlling interest in Caltex Oil Tools, a solution-focused company providing equipment rentals, services and customized engineering capabilities to the offshore industry.
Headquartered in Houston and led by a core management team with more than 65 years of experience in deep water, remote technologies and intervention solutions, the Caltex team will enable C-I to further expand its engineering and subsea service capabilities in order to deliver a more complete offering. This acquisition underscores C-innovation’s core mission to serve as the single source solution for the subsea and offshore industries.
“With the acquisition of Caltex, we advance our position as the single source solution for our customers,” David Sheetz, vice president of C-I, said. “Caltex’s highly experienced team is a perfect fit to support C-I’s continued growth as a leader in the subsea market. We have been working with Caltex for a few years now, and I believe this deal will allow us to jointly develop more efficient technology and processes to increase returns in riserless light well intervention (RLWI) projects.”
“We are enthusiastic about welcoming the Caltex team into the Chouest family of companies,” Dino Chouest, president of C-Innovation, said. “Teaming C-Innovation with Caltex, along with other Chouest companies, will further strengthen us as a world leader in offering our clients a total solution in today’s challenging market.”
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