The owners of Danos, a 76-year-old Louisiana-based oilfield services firm services company, are preparing for the future by diversifying their energy portfolio through strategic acquisitions.
Danos Ventures has been established to lead this effort, helmed by third-generation owner and CEO Eric Danos.
James Callahan has also moved into a newly created executive position as vice president of acquisitions. The duo will work to develop a pipeline of new opportunities in both traditional and emerging energy markets.
Callahan previously served as vice president of finance and later, vice president of project services for Danos. He has been with the company since 2013. In his new role with Danos Ventures, Callahan will help to assess potential acquisitions, make recommendations to ownership, negotiate with sellers, lead due diligence and operate any acquired entities.
“James brings a wide range of business experience and financial savvy to our acquisition effort,” says Eric Danos, CEO of Danos Ventures. “We are actively exploring a number of opportunities that would add significant new capacity to the services we can provide to our customers.”
Along with successful companies operating in complementary market areas, Danos said that Danos Ventures was also interested in carbon capture and emissions reduction applications, among others. By diversifying and adding to their portfolio, Danos’ owners are building resiliency for the future as well creating new professional opportunities for employees, Danos said.