Encore Dredging Partners, LLC. ("EDP") a newly formed premier specialty dredging and marine infrastructure services firm today announced the acquisition of Inland Dredging Company, LLC (“Inland”) for an undisclosed purchase price. EDP completed the transaction with the support of AV Capital who is the sole financial sponsor of EDP and will continue to support future growth and provide oversight.
EDP was founded to be the premier mid-sized cutter suction and mechanical dredging services provider focusing on navigable waterways throughout the United States. EDP’s leadership team brings a combined 75 years of dredging and marine infrastructure services experience and is focused on delivering high quality projects to private owners and government agencies. EDP’s partnership with AV Capital and acquisition of Inland establishes a growth-oriented platform poised for further expansion of its dredging and marine infrastructure services throughout the U.S.
Founded in 1997, Inland’s reputation for quality, integrity, and accountability is highly regarded within the industry and throughout its diverse client base. For 24 years, Inland has provided high quality dredging services throughout the Central U.S. river system and the Gulf Coast areas of Florida, Alabama, Mississippi, Louisiana, and Texas. Inland’s main services include maintenance and deepening dredging, beach nourishment, coastal restoration, marsh creation, and island restoration and protection. Inland operates a fleet of three high-quality 24” cutter suction dredges and provides an experienced group of highly skilled professionals utilizing the latest technology and equipment to assure client satisfaction on every project.
“The acquisition of Inland represents an important step in the execution of our growth strategy for EDP and serves as a platform for continued client success,” said Dwayne Breaux, EDP’s Chief Executive Officer. “Inland has a solid history of delivering high quality projects across the South and Southeastern United States. We are honored to be partnering with the outstanding Inland team to build upon their historical successes, enhance our capabilities, and expand our geographic footprint.”
Under the leadership of EDP and support of AV Capital, Inland’s existing management team will continue to provide high quality services to its clients and a safe work environment to employees while seeking to expand service offerings, dredge capabilities, and geographical footprint.
“We are excited to be joining the Encore family,” said Greg Ford, Inland’s President. “EDP’s management team has extensive dredging and marine infrastructure services experience that will be additive to our team moving forward. As we look ahead, we will continue to provide the same top-quality services to our customers with the same faces they have seen for years. Additionally, we will be looking to expand both our operating geography and our dredging capabilities. We are excited about the next chapter for Inland and look forward to new growth while honoring our legacy of success.”
AV Capital provided the financial backing and partnered with EDP to complete the acquisition of Inland. AV Capital is an Austin, Texas-based private equity firm comprised of experienced investors with a proven track record partnering with industrial oriented companies, uniquely including a prior success in dredging services and marine construction. AV Capital is focused on partnering with talented management teams to transition closely-held middle market companies to institutional ownership and accelerate growth. As relationship-oriented investors, AV Capital brings a patient approach and a long-term perspective to building market leading companies.
“AV Capital is excited to return to the dredging industry by partnering with EDP and the team at Inland to build a market leading platform,” said Vernon Bryant, Managing Partner of AV Capital. “We are also very appreciative of the Mohead Family for the great business they built at Inland and the trust they put in EDP and AV Capital to build upon its legacy.”
Inland Dredging was advised on the transaction by investment bank Capstone Headwaters and represented by law firm Bass, Berry & Sims.
About Encore Dredging Partners
Encore Dredging Partners (“EDP”) was founded to be the premier mid-sized cutter suction and mechanical dredging services provider focusing on navigable waterways throughout the United States. With over 75 years of combined dredging and marine infrastructure services experience in the leadership team, EDP has the experience and capability to deliver quality services to its diverse client base of private owners and government agencies with a high degree of integrity and accountability. Additionally, EDP is committed to creating a safe work environment by setting high personal standards of safety performance and is committed to creating an injury free workplace every day.
About Inland Dredging Company
Founded in 1997, Inland’s reputation is highly regarded within the dredging market and throughout its diverse client base. Inland Dredging Company, LLC, with headquarters at 103 North King Avenue in Dyersburg, TN, celebrates its twenty fourth year in 2021 as a leader in the business of providing dredging services. Inland’s main services include maintenance dredging, deepening dredging, beach nourishment, coastal restoration, marsh creation, and island restoration and protection. Inland operates a fleet of three high-quality 24” cutter suction dredges and provides an experienced group of highly skilled professionals utilizing the latest technology and equipment to assure client satisfaction on every project.
About AV Capital
AV Capital is an Austin, Texas-based private equity firm comprised of experienced investors with a proven track record of success. AV Capital is owned and managed by Vernon Bryant, a former co-leader of the Middle Market investment practice at Austin Ventures, one of the most established venture capital firms in the nation with $3.9 billion under management and a 30+ year track record of investing in entrepreneurial businesses. AV Capital is focused on partnering with talented management teams to transition closely-held middle market companies to institutional ownership and accelerate growth. As relationship-oriented investors, AV Capital brings a patient approach and a long-term perspective to building market leading companies. The AV Capital investment team has deployed nearly $600 million of equity capital in 12 platform companies and delivered outstanding investment returns. AV Capital invests in niche manufacturing, specialty distribution, and business services companies across a variety of end markets. Business owners have chosen to partner with AV Capital because of its strong values and culture, its extensive investment experience and network of relationships, and its history of success in supporting management teams to grow outstanding middle market companies.
Encore Dredging Partners, LLC.
Chris DeAlmeida, Chief Financial Officer
Source: Encore Dredging Partners. LLC.
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