All Coast, LLC, a newly formed company for the marine services industry founded by John Powers and John Nesser III, has completed the acquisition of Hercules Offshore’s domestic liftboat assets.
This $57.5 million acquisition includes 29 actively marketed liftboats ranging from class 105 to class 229, 10 inactive liftboats and additional related assets.
All Coast is a limited liability company, newly formed for this transaction, with John Powers and John Nesser III leading as Managers and Co-CEOs.
Powers and Nesser, All Coast managers and co-chief executive officers, each have more than 40 years of experience in the oil and gas, engineering and maritime industries.
Throughout his career, Powers has owned and operated numerous energy and marine services companies including Power Offshore Services, LLC; Reeled Tubing, LLC; Seatrax, LLC; and Coastal Drilling Co.
Previously, Nesser served as the executive vice president and chief operating officer for McDermott International, where…
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