Fund manager Triton has agreed to acquire a majority stake in subsea services provider DeepOcean.
The investor will support the company’s growth over the coming years in collaboration with some of its current shareholders.
DeepOcean has also raised further equity in a move that it said will strengthen its balance sheet.
The company said both developments position it well to take advantage of growth opportunities in offshore renewables.
The transaction is subject to regulatory approvals and is expected to close around the New Year.
Carnegie acted as lead advisor to DeepOcean.
“This transaction has achieved two key objectives for DeepOcean,” chief executive Bart Heijermans said.
“Firstly, in Triton we have found a strong and experienced lead shareholder with key competencies in strategy, business development and operational excellence to support the company going forward.
“Secondly, with the capital raise we have strengthened our balance sheet and improved our liquidity position and outlook.”
Image: DeepOcean
