On June 5, 2026, PillarFour Capital Partners ("PillarFour"), a Calgary- and London-based global investment fund focused on sustainable energy technology and innovation in the oilfield, completed the first investment out of its newest fund, PillarFour Capital Partners Fund III, through a corporate carve-out acquisition of 100 percent of the concrete weight coating and anti-corrosion coating businesses of The Bayou Companies, LLC ("Bayou"). Financial terms of the transaction were not disclosed.

Bayou is headquartered in New Iberia, Louisiana, and has been a market leader in offshore and onshore pipeline coatings for more than 80 years, servicing the oil and gas pipeline and liquefied natural gas sectors. Bayou's product and service portfolio includes fusion-bonded epoxy and three-layer anti-corrosion coating, concrete weight coating, flow assurance coating, internal pipeline coating and field joint coatings for both onshore and complex offshore applications. Bayou was founded in 1942 and has been majority-owned by Palo Alto-based private equity firm Altamont Capital Partners since 2018, following Altamont's carve-out of the Bayou business from Aegion Corporation.

In connection with the transaction, Yves Paletta, an advisory board member of PillarFour and previous advisor to The Bayou Companies, joined the acquired company as Executive Chairman.

PillarFour invests in companies with high return on invested capital, low capital intensity and commercial technologies that enhance sustainability and lower carbon intensity in the oilfield. The carve-out marks the inaugural deployment of PillarFour Capital Partners Fund III.