OEG Offshore and Paragon Industries Inc Announce Merger

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1 May 2017

OEG Offshore, a leading global provider of cargo carrying units (CCUs) and A60 modules to the oil and gas industry announces the merger of its US business with long established Louisiana based cargo unit and logistics specialist Paragon Industries, Inc.

The multi-million dollar merger confirms the combined OEG business as one of the leading offshore container suppliers serving the Gulf of Mexico. The deal expands OEG’s US fleet by over 1,400 units and includes a number of new container designs as well as extending OEG’s current Gulf Coast presence to a number of new full service locations. All of Paragon’s 14 experienced staff will join with OEG’s US based employees.

“Paragon Industries is confident that its merger with OEG Offshore will result in a new, united ability to offer an increased breadth and depth of complimentary product offerings and service capabilities to meet our customers’ requirements. This merger will not only support ongoing working relationships with our existing customer bases, but will provide a more efficient and effective enterprise to continue to provide and improve its quality level of service across a broader scope of needs.,” said Paragon President & CEO, Leonard J. Guarisco, Jr.

Founded in 1987 by Leonard J. Guarisco, Snr., father of the current Paragon President & CEO, Leonard J. Guarisco, Jr., Paragon has serviced the Gulf coast’s day-to-day cargo movements between land and sea from its principal facility in Morgan City as well as multiple stocking yards covering the whole US Gulf Coast from Texas to Alabama.

Paragon provides a range of cargo carrying units including baskets, containers, pallet and gang boxes, gas cylinder racks and cargo transporters certified to the internationally recognised standards of DNV 2.7-1/EN 12079/IMO 860/SEPco OPS0055 and API RP 2A for sale and rental.

“We are delighted to align with Leonard and the Paragon team to develop our product range in the US Gulf of Mexico market and believe that with the similar culture and service ethos of OEG and Paragon that we shall achieve a rapid integration of the two companies and provide rapid benefits to our expanded customer base.” said OEG Offshore Chief Executive John Heiton.

Paragon Holding Leonard J. Guarisco Jr. - Paragon President & CEO