H.I.G. Capital Completes Acquisition of PetroCom
PetroCom LLC announced that an affiliate of H.I.G. Capital, a Miami-based private investment firm, has completed the previously announced acquisition of PetroCom. Headquartered in New Orleans, PetroCom is a leading cellular carrier in the Gulf of Mexico and a full-service telecommunications solutions provider for the offshore industry.
Last year H.I.G., through its Bayside Capital affiliate, acquired Sola Communications, a leader in the delivery of telecommunications related services for the offshore oil and gas and emergency services markets. In connection with its acquisition of PetroCom, H.I.G. also obtained regulatory approval to combine the PetroCom and Sola businesses.
PetroCom is the fifth Gulf area company in which H.I.G. has invested in the past few years. Others include Rotocraft Leasing in Broussard, La., Houma-based Redfish Rentals, Total Safety, which is based in Houston with offices throughout Louisiana, and Sola Communications.
H.I.G. Capital Completes Acquisition of PetroCom