Two Harvey Gulf Board Members Resign

HGIM Corp., the parent company to U.S.-based Harvey Gulf International Marine, LLC, announced on Thursday that the holders of over 85% of its common stock, including Gladiator Investments, LLC, an affiliate of Shane J. Guidry, Walker Ridge Capital Management, LLC, an affiliate of The Jordan Company LP, and certain affiliates of Black Diamond Capital Management, L.L.C., have entered into a securityholders agreement. In connection with the agreement, Sherman Edmiston and James Swent have resigned from the board of directors, and the board will be reduced from seven to five members.

Following these changes, the members of the board will be Guidry, Peter R. Frank, Steve Orlando, Jeff Landry and J. Mark Burns, all current members of the board.

Guidry, the majority owner of Gladiator Investments, LLC and the CEO and chairman of the board of Harvey, said, “I am pleased to report that the holders of the vast majority of Harvey’s common stock have come to agreement regarding the composition of the board of directors and other matters. This agreement will further enhance the board’s alignment with its stockholders, and we all look forward to working collaboratively to deliver superior stockholder value in the years ahead. Finally, on behalf of the Harvey’s board, we thank Sherman Edmiston and James Swent for their service and many contributions to Harvey over the past few years.”

Harvey Gulf International Marine, founded in 1949, is a privately owned and operated marine transportation company that specializes in providing fast supply vessels, offshore supply and multi-purpose support vessels for deepwater operations.