DeepOcean ready to ‘weather the storm’ as Triton completes investment
Triton has completed its investment in DeepOcean, a provider of subsea services to the oil and gas and renewables industries.
DeepOcean announced in November that Triton would, through its investment in the company, become the new majority owner of DeepOcean. The parties have agreed not to disclose the purchase price.
The subsea services player said on Monday that the investment was completed on December 31, 2016, and that the funds provided by Triton will support the company’s growth over the coming years.
Through the equity raised by both DeepOcean and the completed investment by Triton, the company stated it is now well positioned to weather the downturn in oil and gas markets and to take advantage of growth opportunities in the oil and gas and renewables markets.
DeepOcean said in November that Triton had followed the company closely for a long time before deciding to make the investment and had come to know the sector and the company well.
Offshore Energy Today Staff