One of Louisiana’s largest oil and gas services businesses has purchased a fellow Terrebonne Parish firm, the third company it has bought so far this year.
Danos, the Gray-based company now on its third generation of family ownership, said last week that it has completed the purchase of Panel Specialists, which builds industrial control panels and operates out of a facility near the Houma-Terrebonne Airport.
In a statement, Danos CEO Paul Danos said the acquisition will help deliver more value to clients.
“By combining our strengths, we can enhance the quality, reliability and scope of our services, ensuring customers receive the best possible solutions for their evolving needs,” Danos said.
Terms of the private deal, including purchase price, were not disclosed.
Panel Specialists has been in business for 38 years, with a focus on control panels, instrumentation and electrical solutions. As part of the deal, Danos has taken over all of Panel Specialists’ services, which covers panel fabrication, automation and the maintenance and repair of valves.
According to Shawn Portier, general manager of technical services for Danos, the addition of Panel Specialists’ technical expertise — including valve repair and testing certifications from the National Board of Boiler and Pressure Vessel Inspectors — will enhance Danos’ capabilities.
Pictured from top left are Danos Operations Services President Reed Peré, Valve and Wellhead Operations Manager Dustin Hebert, General Manager of Technical Services Shawn Portier standing behind Denise Bergeron, front left, and her husband, Earl Bergeron.
Earl Bergeron, Panel Specialists’ former owner, will become the senior automation and controls lead for Danos. Most of his employees were offered jobs with Danos and he will bring along part of his team to work under the new ownership, according to Danos spokesperson Samantha Magee.
Magee said Danos plans to integrate all of Panel Specialists’ active contracts and customers into its existing operations.
The 78-year-old company now has about 3,700 employees and more than 200 customers across 21 states, the Gulf region and overseas markets. As of 2023, the company generated roughly $1 billion in revenue, the Times-Picayune reported at the time. Company officials declined to provide updated numbers.
The purchase is the latest chapter in Danos’ yearslong expansion campaign.
In June, Danos bought the valve and wellhead service companies X-Pro Valve and Surplus Valve Warehouse. It then took over the onshore U.S. oil and gas labor supply operations of John Wood Group in August.
Magee said the latest acquisition is a result of the ongoing conversations officials at Danos have been having with leaders of other corporations in the energy industry and that company officials are on the lookout for other deals.
“We will look for opportunities to enhance our ability to provide reliable and affordable energy to the US and our allies,” she said.
