Triton-DeepOcean Transaction Completed

Triton, a private equity investment company, is now the largest shareholder of DeepOcean, after the investment announced at the end of November 2016 was completed on 31 December 2016.

“Through the substantial equity raise and the future support of Triton, DeepOcean is well positioned to weather the downturn in oil & gas markets and also to take advantage of growth opportunities in the oil & gas and renewables markets,” DeepOcean stated.

“DeepOcean is well positioned as one of the leading operating platforms for subsea services and can be a main driver of consolidation in its niche”, Fredrik Brynildsen, Investment Advisory Professional of the Triton Oslo office, said in November.

A few days after the Triton investment announcement, DeepOcean signed a contract with DONG Energy for inter-array cable installation at the Hornsea Project One wind farm in the UK.

The subsea services provider also recently completed cable route clearance works at DONG Energy’s Walney Extension offshore wind farm, prior to 2017 export cable landfall pull-in operations. DeepOcean will use the recently delivered Maersk Connector to install subsea cables at the site.