Avista Augments Energy Practice
The firm tapped John Huff as an adviser to help oversee and source off-shore drilling investments.
July 18, 2008
Avista Capital Partners, a New York-based private equity firm, retained John R. Huff, chairman of Oceaneering International, as an Industry Advisor.
Huff’s primary objective at Avista will be to provide oversight on the firm’s energy investments, and also assist on the identification of any potential investments in the space.
Stephen Webster, co-managing partner and president of the firm, described to MergersUnleashed that macro economic factors, such as the high price of oil, are creating further opportunities for investment in the sector. “Energy businesses are investing heavily in off-shore oil drilling,” he said, adding, “it will continue to be important in finding additional reserves.”
Huff, of course, is very experienced in this particular segment thanks to his time at Oceaneering.
Huff was formerly president and chief executive officer of the company, which is a global oilfield provider of engineered services. In 2006, he relinquished the CEO title, a position he held since 1986. Huff was widely credited as having been the architect behind the company’s turnaround, which began in the late Eighties.
Prior to his engagement at Oceaneering, Huff held positions at Falcon Partners Inc., an investment-banking group, and also at Oceanic, an offshore drilling contractor.
Interestingly enough, Huff was an all-state high school football player in Mississippi, and accepted a football scholarship to Rice. After switching to Georgia Institute of Technology for his junior year, he suffered a dislocated shoulder which put an end to his professional football aspirations. However, he did go on to earn a Bachelor of Civil Engineering.
Avista Capital Partners, through offices in New York and Houston, pursues control-stake or influential minority investments in growth-oriented companies in the media, healthcare and energy sectors.
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