Pompano Beach, Fla., based dredging specialist Cavache, Inc. has been acquired by Ahtna Marine & Construction Company, LLC (AMCC), a subsidiary of Ahtna, Inc., a not for profit Alaska Native Regional Corporation.
Cavache has been in operation for over 15 years and its 20 employees and vessel and marine equipment assets will be transitioned under AMCC.
“Cavache has an excellent reputation with their clients and the acquisition will bolster our strategic objective to expand operations throughout the Southeast region of the country,” said Craig O’Rourke, AMCC president.
Cavache specializes in hydraulic and mechanical dredging services in lakes, ports, rivers, canals, inlets and other navigable waterways as well as beach renourishment, shoreline protection, wetland construction and environmental clean-up and maintenance.
AMCC plans to establish a HUBZone office in Florida and service the U.S. Army Corps of Engineers, the Florida Inland Navigation District, and the Naval Facilities Engineering Command (NAVFAC) Southeast contracting office.
“The acquisition is part of our overall investment strategy which is focused on companies that increase our service offerings, provide shareholder value and diversify our customer base. We will continue to explore acquisition of other great companies that meet our investment criteria,” said Tom Maloney, COO of Ahtna, Inc/ holding company Ahtna Netiye.