Mazzone advises Cardinal on its acquisition of Quality Energy Services
Mazzone & Associates (“Mazzone”) is pleased to announce that it acted as exclusive financial advisor to Cardinal Services (“Cardinal” or the “Company”), a leading provider of specialty oilfield services, on the further expansion of its service offering through the acquisition of Quality Energy Services (“QES”), a provider of offshore well intervention services headquartered in Broussard, Louisiana.
Drew Derouen, Cardinal’s COO, noted, “Cardinal is proud to announce the completion of this acquisition. We have long admired QES, and the Company is an ideal fit for Cardinal’s expansion strategy focused on growing our footprint in the specialty oilfield services space. We are excited about the opportunity to bring two great companies, and more importantly, two great groups of people together to be the industry-leading provider of well intervention services for the GOA and along the Gulf Coast.”
Randy Landry, President and COO of QES, added, “On behalf of the QES team, we are pleased to be a part of the Cardinal Services family of businesses. Cardinal is a well-respected organization in both the Gulf Coast and Permian, and the combination of our services expertise, talented personnel, and modern equipment fleets will allow us to better serve our customers going forward.” Mr. Landry will remain with the combined company and will continue to lead QES post-closing.
Dustin Dawson, Vice President at Mazzone, commented, “It was a pleasure working with Drew and the Cardinal team to bring this deal to a successful close. Cardinal and its family office owner have been clients of Mazzone’s for years, and we’re thrilled to see Cardinal execute on a transformative acquisition that will build on the company’s already impressive growth trajectory.”
Managing Director Maury Bell, Vice President Dustin Dawson, and Senior Analyst Henry Dombrowski led the transaction for Mazzone.
About Quality Energy Services
Founded in 2001, Quality Energy Services is an established provider of offshore well intervention and production optimization services for operators in the Gulf. With a suite of specialized tools, services, and a highly skilled workforce, QES provides E&P operators with cost-effective solutions designed to optimize production and enhance the performance of existing wells. Additionally, QES offers specialized technical services to support plug and abandonment of legacy wells. For more information, please visit www.qualityenergy.net.
About Cardinal Services
Cardinal Services is a leading provider of oilfield services and equipment, specializing in coil tubing, slickline, and wireline services for oil and natural gas producers in the Permian Basin of West Texas, Eagle Ford Basin of South Texas, the shallow and deep waters of the Gulf, and select other U.S. land markets. Since its founding in 2012, Cardinal has been backed by Kotts Capital Holdings, a Houston-based single family office investor. For more information, please visit www.cardinalsvc.com.