HOUSTON, May 16, 2019 /PRNewswire/ -- The Bayou Companies, LLC (Bayou), a leading pipeline coatings and insulation provider in the oil and gas sector, today announced the appointment of Tanmay Desai as Chief Executive Officer, effective immediately.
Tanmay brings to Bayou more than 15 years of multiple leadership positions across the oilfield services and heavy industrial spaces. Prior to this, Tanmay served as Senior Vice President at Axip Energy Services (formerly known as Valerus), where he led the onshore and offshore compression and production services business. Tanmay started his career at Bain & Company as a management consultant focused on strategy and operations in a variety of heavy industries covering aerospace, shipbuilding and construction. Tanmay holds a BBA from The University of Texas at Austin and an MBA from Harvard Business School.
"The Board and I are pleased to announce Tanmay's appointment as CEO and have full confidence that he will help Bayou achieve its growth potential," said Pete Lane, Chairman of the Board of Bayou. "Tanmay's extensive experience and proven track record of outperformance and value creation in the oilfield services and heavy industrial spaces make him a natural fit to support Bayou's growth. We want to sincerely thank Evan Russell for his commitment and contributions to the company."
"As recent investors in Bayou, we are increasingly enthusiastic about the prospects for the company," said Randall Eason, Managing Director at Altamont Capital Partners. "We believe there are tremendous growth opportunities ahead and are confident that Tanmay will support the company through these growth opportunities." Altamont Capital Partners acquired Bayou in September 2018.
"I am thrilled to be joining Bayou at this exciting time," said Tanmay Desai. "Bayou has an over 75-year history of service, reliability and performance. I look forward to working with the Bayou team in Houston and New Iberia as we look to build upon this reputation for excellence and grow our business to further support our customers."
About The Bayou Companies
Founded in 1942, Bayou is widely recognized as a market leader in onshore pipe coatings and offshore coatings and insulation, including highly-specialized insulation for the oil & gas industry. Throughout its long history, Bayou has been a reliable partner for its customers across its mission-critical suite of services and has continued to invest in capabilities that match the increasingly complex demands of the pipeline community. Bayou's industry-leading suite of pipeline insulation products includes the recent development and application of HT-200, the only deep-water insulation coating rated to 400 degrees Fahrenheit. Bayou has invested significantly in building out world-class facilities in its strategically located New Iberia location. Bayou's prime location and expansive manufacturing and storage footprint provides efficient logistics and seamless operations for its customers.
About Altamont Capital Partners
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with more than $2.5 billion of assets under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm's principals have significant experience building business success stories across a range of industries, including consumer/retail, industrials, healthcare and financial services.
SOURCE Altamont Capital Partners