Subsea Technology & Rentals Secures Majority Investment from STAR Capital
Deal News | Dec 10, 2024 | Star Capital
STAR Capital Partnership LLP has announced the completion of its acquisition of Subsea Technology & Rentals (STR) through its STAR IV Fund. With this transaction, STAR Capital becomes the majority owner alongside a group of co-investors and the management team. STR, a prominent provider of subsea sensor equipment in the offshore energy, infrastructure, and marine science markets, holds a strong global presence with facilities in strategic locations such as Aberdeen, Great Yarmouth, Houston, Perth, and Singapore. This acquisition aligns with STAR's investment strategy of focusing on specialist rental services and companies that exhibit strong structural market positions. STR serves a critical role in facilitating the offshore energy transition and has cultivated long-term relationships with its blue-chip client base. STAR Capital's investment in STR represents the fifth acquisition for the STAR IV Fund and underscores the firm's strategy of investing in asset-based businesses valued between £50 million and £1 billion.
Sectors
- Offshore Energy
- Marine Science
- Asset Management and Investment
Geography
- United Kingdom – STR has facilities in Aberdeen and Great Yarmouth, UK, playing a significant role in the company's operations.
- United States – Houston, US is a strategic location for STR’s operations in the North American market.
- Australia – STR's facility in Perth signifies its operational presence in the Australian region.
- Singapore – STR has an operational base in Singapore, highlighting its involvement in the Asia-Pacific market.
Industry
- Offshore Energy – STR operates as a subsea sensor equipment provider, servicing the offshore energy markets with critical solutions.
- Marine Science – STR provides specialized equipment for marine science applications, indicating its involvement in this sector.
- Asset Management and Investment – STAR Capital's acquisition activity as part of its investment strategy falls under the asset management and investment sector.
Financials
- Between 50 million and 1 billion – STAR typically invests in companies with an enterprise value within this range.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| STAR Capital Partnership LLP | Bidding Company | Company | A private equity firm engaging in the acquisition of asset-based businesses with essential services. |
| Subsea Technology & Rentals (STR) | Target Company | Company | A leading global provider of subsea sensor equipment and solutions for the offshore energy, infrastructure, and marine science markets. |