New holding company focused on niche-leading businesses across industrial manufacturing and heavy industry
CORPUS CHRISTI, Texas, Sept. 18, 2024 /PRNewswire-PRWeb/ — Forfend Industries Inc., a newly formed serial acquisition holding company, today announced its launch and first acquisition of Billy Pugh Company, a leading manufacturer of safety equipment for the offshore and maritime end-markets, based in Corpus Christi, Texas.
Forfend Industries, led by founder and CEO Britt Barclay, will focus on acquiring niche-leading businesses across industrial manufacturing and heavy industry. The company is backed by Hampton River Holdings LLC and several prominent holding company founders and investors.
“We’re thrilled to launch Forfend Industries with the acquisition of such an iconic brand in Billy Pugh Company,” said Britt Barclay, CEO of Forfend Industries. “Their nearly 70-year legacy of innovation in offshore safety equipment aligns perfectly with our mission to invest in companies that protect and empower workers in critical industries.”
Billy Pugh Company, founded in 1957, pioneered the personnel transfer net that became the industry standard for moving workers between boats and oil platforms. Today, Billy Pugh continues to manufacture a full line of premium quality safety equipment for the offshore oil and gas industry.
“Billy Pugh has been a leader in the offshore oil and gas industry for over 67 years,” said Paul Liberato, President of Billy Pugh Company. “We have built our reputation on innovation, and building the highest quality equipment available in the world. This next chapter with Forfend will allow the Company to expand reach into new markets with new products and services. Our tradition of innovation and quality will continue for decades to come.”
Mike Cadigan, CEO and President of Billy Pugh will continue to lead the management team and operations. “It’s business as usual for Billy Pugh’s customers and employees,” Barclay stated. “We’re here to support the company’s growth while preserving the culture and expertise that have made it successful for so long.”
The acquisition of Billy Pugh Company marks the first step in Forfend Industries’ strategy to build an ecosystem of niche-leading manufacturers whose products are “mission critical” to their customers. Forfend plans to leverage its operational expertise and financial resources to help its acquired companies expand their market presence and develop new products.
