Quality Companies: Active, Growing and Investing
Driven by Quality. United by People. Sustained by Performance.
Quality Companies is a consortium of premier oil and gas product and service companies strategically located throughout the Gulf Coast region and beyond. Four industry-leading companies make up the Quality Companies family. Quality Construction & Production (QCP) is a torchbearer in offshore construction, having previously earned coveted positions in Entrepreneur Magazine’s Hot 500 as well as Acadiana’s Top 50 Privately Held Companies lists. Sister company, Quality Production Management, L.L.C. (QPM) is dedicated to providing its clients with premier operations management services within the continental United States. This includes contract operations services incorporating offshore production and plant/pipeline operations, managed properties, logistics coordination and platform maintenance. The third company in the Quality Companies group is TRACO Production Services (TRACO). As a supplier of quality vessel fabrication and production services, TRACO offers new or refurbished production equipment, separators, pressure vessels, safety system panels and more to the upstream, midstream and downstream sectors. Finally, Zadok Technologies (Zadok), an international leader in electrical and instrumentation services, has recently been brought into the Quality Companies family, having been founded by the management team that has now taken over the reins of the well-established consortium of companies.
The new Quality Companies management team is comprised of Fortunato “Tony” Martinez, President; Scott P. LaGrange, CEO; and John Clay Nunnally, CFO. Combined, the team of seasoned industry professionals boasts more than 85 years of oil and gas experience. The trio previously worked together as the management team at Performance Energy Services in Houma, Louisiana. Having built the company from the ground up, it is now an internationally recognized offshore and onshore construction, fabrication and electrical and instrumentation company with a $135 million revenue and operations across nine countries.
Revitalizing Fortunes
The proven high calibre of the three-man management team went on to bring about an astonishing change of direction in the fortunes of Quality Companies. Since taking control on May 23, 2019, the company has received more than $16.5 million in new capital from the new owners and management team. As a result, Quality Companies has strengthened its financial position and operational flexibility. As of May 23, 2019, Quality Companies has satisfied the conditions of its ‘Plan of Reorganization’ and has emerged from bankruptcy. By working constructively with creditors and other stakeholders, the company surfaced with the same assets, eliminating all long-term debt and reducing its cost structure, which provides the post-emergence company with a significantly improved capital structure to maximize assets to better serve current and future customers.
Tony Martinez explained, “We have now reduced debt by more than $28 million, creating in excess of $14 million in liquidity. More than $2.5 million was used to settle secured and unsecured vendors, with $2.5 million allocated to the previous owners. Now we are working hard to restore customer confidence, re-build vendor relationships and return to a level of profitability that allows us to invest in assets: employees, facilities and equipment. We will maximize growth opportunities through domestic and international workforce and facility expansions. Our vision is simple: to be number one. Number one in safety, in quality and in customer, vendor and employee satisfaction.”
Prioritizing Safety and Quality
With a performance-driven ethos, major consideration is given to the health and safety of Quality Companies’ employees and other persons impacted by the company’s activities, prevention of incidents and protection of the environment. It is the company’s objective to be an industry leader in accident prevention and to take a proactive, progressive role in the protection of the environment. Scott P. LaGrange commented, “We want all employees to understand that we prioritize working together to execute projects safely to provide quality services and products to our customers. At Quality Companies we implement a W.A.T.C.H. Program (Working All Together Checking Hazards) as a quick and effective reporting tool for reporting potential hazards. This observation-based program assists in the collection of critical site safety observations and potential hazards that effect all employees on all of our jobsites. The W.A.T.C.H. program, along with a “Target Zero” mentality that is maintained by our supervisors and employees, assist in ensuring a safe and productive job site. Not just for our employees, but for all personnel working alongside us.
Quality Companies has built an exceptional reputation for quality throughout the Gulf Coast region. QPM’s commitment to quality is built on the knowledge and expertise of its specialized workforce, focused on providing clients with dependable, highly trained employees who deliver more than just by-the-book tasks; they perform evaluations, devise process improvements and promote detailed planning on every project. A supplemental labor division provides clients with premier start-up and operations management services along with production operators, mechanics, electricians, field foremen and superintendents. QCP is committed to offering the finest in construction and fabrication services on the Gulf Coast. Onshore fabrication services include spool piping, production modules, manifolds, deck extensions and riser guards and clamps. QCP’s offshore services include hook-ups, facilities maintenance and upgrades, compressor installations and field welding. QCP Scaffold Division specializes in providing safe, innovative, cost-effective solutions to the offshore and marine sector of the oil and gas industry. TRACO offers a complete line of new or refurbished production equipment, separators, pressure vessels, safety system panels and more. The company’s services include glycol unit cleaning, pressure testing and chemical treating for a variety of applications including equipment maintenance, equipment fabrication (ASME Code & Non-Code), production operators and more. Zadok provides quality fabrication, E&I and testing and inspection services both offshore and onshore.
Expanding the Quality Companies Footprint
With established facilities in Youngsville and Houma, Louisiana; Corpus Christi and Houston, Texas; and Belmont, Ohio, Quality Companies has a broadening presence across the United States. Furthermore, Quality has recently launched an Industrial/International division that will concentrate on diversifying the company from the Gulf of Mexico and oil and gas industry and focus on alternative energy projects within the United States and abroad. The new division will focus on ongoing operations and projects in the Middle East, Africa, Mexico and South America.
Clay Nunnally said, “Quality Companies continuously devotes energy and resources to solidify and expand our position within the oil and gas industry.
Management’s focus is clear. To run a world class fabrication, construction and E&I services group. With that comes responsibility to the employees and surrounding community to grow in a safe, environmentally conscious manner. Considering the approach of executing a well-planned and professional strategy that will benefit employees and shareholders alike, it is apparent Quality is building an organization for the future. A growth plan that will not sacrifice long-term sustainability for short-term gain. Our message to the world is clear: Quality Companies is active, growing and investing.”