DC Advisory advises Baird Capital on the sale of Subsea Technology & Rentals to STAR Capital
Background
- Subsea Technology & Rentals (STR) is a specialist subsea sensor technology and solutions company providing equipment and solutions globally to the offshore energy, infrastructure and marine science markets
- Headquartered in Aberdeen, UK with global operations in Houston, Perth and Singapore, STR delivers mission-critical technology solutions to support offshore survey, positioning, environmental and subsea construction
- Baird Capital invested alongside management in January 2022 and has supported the rapid expansion of STR’s capabilities and operations worldwide, with STR nearly doubling headcount over the last three years
- Baird Capital is a mid-market private equity firm focused on B2B technology and service-focused investments in Europe, Asia and the US
Process
- DC Advisory was exclusively engaged by Baird Capital to provide sell-side M&A and debt advice to support the sale of STR
- DC Advisory ran a tailored process, leveraging its sector expertise to identify and engage a competitive bidder group capable of supporting STR’s organic and acquisition-led growth strategy
- DC Advisory also co-ordinated a lender education process, providing financial investors with a range of attractive financing packages
Outcome
- As a result of a competitive process, STAR Capital (STAR) acquired a majority stake in STR, in December 2024
- STAR has invested alongside the incumbent management team, led by Steve Steele (CEO) and Stuart Bannerman (CFO)
- STAR will support the next stage of STR’s journey as it looks to enter new markets and further boost its technology offering
- This transaction showcases DC Advisory’s strong expertise in the equipment as a service (EAAS) and energy transition sectors
- Financial terms of the transaction were not disclosed
“We selected DC Advisory to support us on this transaction given their impressive track record in the EAAS sector. Their understanding of, and relationships with, the potential investor universe, alongside their drive and commitment, were instrumental to achieving this result.”
“We would like to express our thanks to DC Advisory for their guidance through this transaction. Gary and his team put every effort into supporting us throughout the process: their strong understanding of the key value drivers of our business was invaluable in helping the management team to tell STR’s story.”
“Steve and the team have built an outstanding business - differentiated through its proprietary technological capabilities and service offering - which is optimally positioned to both enable and benefit from the energy transition. We have thoroughly enjoyed working with STR and Baird Capital to deliver this transaction, which adds to our strong EAAS sector credentials.”
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- M&A Advisory
- Debt Advisory & Restructuring
Disclaimer
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