PVI Holdings, the American Subsidiary of Pon Holdings B.V., a Netherlands Based Privately Held Company, Announced Today Its Acquisition of Carter Chambers, LLC

JACKSONVILLE, Fla., Jan. 7 /PRNewswire/ -- PVI Holdings, the American subsidiary of Pon Holdings B.V., has acquired Carter Chambers LLC for an undisclosed amount.

Carter Chambers, LLC will merge operations with Desselle-Maggard Corporation in 2010. Both companies are headquartered in Baton Rouge, Louisiana, and will combine products, services and the talent of 400 employees to form one of the largest providers of industrial automation and valve solutions in the Southeast.

The strategic alliance will provide turn-key repair services on control, pressure relief valves, quarter-turn automation and a large selection of complementary instrumentation and control products in 14 locations across the Southeast. The network of locations will include Louisiana, Texas, Mississippi, Arkansas, Tennessee, Kentucky, Alabama and Florida.

The expansion of facilities over the next few years is estimated to lead to the creation of 75 to 100 jobs. An example of facility expansion is represented in the new state-of-the-art 65,000 square foot facility in Port Arthur, Texas, which Desselle-Maggard Corporation recently opened.

"This purchase is truly a strategic fit for our employees, PVI Holdings and its subsidiary companies, but more importantly, all of our clients. It will provide a whole host of opportunities for all who are served by these organizations," said Tom Felter, Chief Executive Officer of Carter Chambers, LLC. "It is another remarkable moment in the Carter Chambers, LLC journey as we continue to provide even more valuable services to a wide variety of clients in so many different industrial markets," added Felter.

With support and guidance from PVI Holdings, Carter Chambers, LLC and Desselle-Maggard Corporation will continue to provide support to the chemical and petrochemical industries as well as refining, paper, marine, power, engineering, construction, oil and gas industries. A focus on supporting emerging green technology markets, including biodiesel and ethanol, will continue as a corporate initiative. Carter Chambers, LLC and Desselle-Maggard Corporation will continue to represent their top world-class manufacturers.

In October 2008, PVI Holdings acquired Desselle-Maggard Corporation with the strategic vision to expand interest in the United States petrochemical industry. This has allowed the organization the ability to pursue acquisition and merger opportunities across the United States while expanding its market share throughout the Southeast.

"In a business environment where our competition is downsizing we continue to find strategic partnerships for growth. We are creating jobs for Americans by bringing together two great corporate cultures with one set of values and benefits for a value proposition that will energize and excite the industry and our clients. I think it says a lot that a Dutch company of this magnitude, like Pon Holdings B.V., values investing in America," said Joseph Jobe, Desselle-Maggard Corporation Chief Executive Officer.

Tom Felter, CEO for Carter Chambers, has been promoted to PVI and his first priority is to ensure the success of the merger. Current Desselle-Maggard Corporation CEO, Joseph Jobe, will function as CEO of the newly merged organization. The combination of the two entities will not result in any outside changes and the company names will remain the same for the foreseeable future.

"This acquisition and subsequent merger fits perfectly within the PVI Holdings' corporate strategy. We acquire great companies, and work to retain the people that made the companies great. We are excited and fortunate to have the expertise of two industry leaders combining their corporate cultures to form one world-class organization," said Jack Guidry, PVI Holdings Chief Executive Officer.

About PVI Holdings:

Headquartered in Jacksonville, Florida, PVI Holdings is an American subsidiary of Pon Holdings B.V., a leading privately held Dutch company known for selling premier power and equipment products worldwide. PVI Holdings values relationships with original equipment manufacturers and provides solid services, specialty equipment and sellable products, while maintaining a strong talent management system. PVI Holdings' prime initiative is to be involved with leading companies in the industrial marketplace that will allow a rapid increased market share. Currently, PVI Holdings consists of four industrial and service companies: Desselle Maggard Corporation, AT Controls, W&O Supply and Carter Chambers, LLC.

About Carter Chambers, LLC:

Carter Chambers, LLC, headquartered in Baton Rouge, Louisiana, was founded in 1959. It has been a privately owned company that services the refining, paper, marine, power, engineering, construction, and oil and gas industries with premiere product lines. Carter Chambers, LLC specializes in all types of industrial valves, valve automation, instrumentation, filtration, and pressure relief valves. Carter Chambers, LLC has eleven locations and employs 275 people across the United States Gulf South.

About Desselle-Maggard Corporation:

Desselle-Maggard Corporation was founded in 1984 and is headquartered in Baton Rouge, Louisiana. The company has been privately held and has focused on the chemical and refining industries in the Gulf South. Desselle-Maggard Corporation has made significant investment into the control and instrumentation offerings to augment already very successful pursuits around their control valve offerings. DMC has continually attracted 'World-Class' manufacturers because of their 'Service First' business approach.

SOURCE PVI Holdings