Ranger Offshore Completes Acquisition of Tiburon Divers

Houston, Texas, June 2, 2010 ‐‐ Ranger Offshore, Inc. announced today the completion of its acquisition of the offshore commercial diving assets of Tiburon Divers, Inc. Equity financing was provided by SunTx Capital Partners based in Dallas, Texas. Under the terms of the agreement, Ranger will continue to utilize the personnel, certain assets, and experience of Tiburon to provide offshore diving services to the oil and gas industry. Immediate 4‐point diving construction and inspection vessel services will remain the same. Ranger’s focus on its people, quality and overall commitment to safety remain a core part of the company’s approach to its work. Bill J. Lam, President and CEO of Ranger commented, “As part of our near‐term expansion plan, Ranger will focus on increasing its services to include saturation diving as well as providing services on board dynamically positioned vessels. Our longer‐term growth plans include expanding into the offshore pipe lay and heavy lift services market so that we can be even better positioned to satisfy the needs of our customers and realize our goal of becoming the preferred provider of full offshore construction services.” Lam continued, “Ranger has assembled an experienced management team with extensive knowledge of the marine offshore service market to enhance the services currently provided by Tiburon. Tiburon has earned an outstanding reputation for its commitment to safety and high quality work, and we are very excited to have Tiburon as our platform for growth into a more integrated full service marine contractor operating within the Gulf of Mexico and in international markets. “In addition, we are delighted to work with the management team at SunTx Capital Partners, and look forward to their continued support as we carry out
 our 
key
 growth 
initiatives,”
Lam concluded.

About
 Ranger
 Offshore
 Ranger
 Offshore,
 Inc.
 provides
 sub‐sea
 marine
 construction services
 support
 for
 the
 offshore
 oil
 and
 gas
 energy
 industries
 primarily
 in
 the
 U. S.
 and
 in the
 Gulf
 of
 Mexico.
 Headquartered
 in
 Houston,
 Texas,
 Ranger
 supports
 field
 operations  from
 its
 base
 in
 New
 Iberia,
 LA.

About
 SunTx
 Capital
 Partners
 SunTx
 Capital
 Partners
 is
 a
 private
 equity
 investment  partnership
 that
 works
 closely
 with
 management
 teams
 to
 buy
 and
 build
 middle
 market  companies.
 Founded
 in
 2000,
 and
 headquartered
 in
 Dallas,
 Texas,
 SunTx
 has
 approximately $600
 million
 of
 assets
 under
 management.
 The
 capital
 committed
 by
 SunTx
 comes
 from
 its principals,
 as
 well
 as
 from
 institutional
 investors,
 including
 leading
 university
 endowments  and
 corporate
 and
 public
 pension
 funds.

 Contact
 for
 Ranger
 Offshore,
 Inc:
 Denny
 Swartz,
 Vice
 President
 of
 Business
 Development  281‐465‐8331


dswartz@rangeroffshoreinc.com  

Contact
 for
 SunTx
 Capital
 Partners:
 Melissa
 Sheer/ Kimberly
 Kriger
 Kekst
 and
 Company 212‐521‐4800


melissa‐sheer@kekst.com
  kimberly‐kriger@kekst.com 

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