to-the-point: Triton completes investment in DeepOcean

Norway-based subsea industry services provider DeepOcean Group Holding BV yesterday said the investment in the company by funds advised by private equity firm Triton was completed on December 31.

DeepOcean announced at the end of November that Triton will become its majority owner and that it is also strengthening its balance sheet and liquidity with an equity raise. The size of Triton's investment has not been disclosed.

The subsea services specialist says that "the substantial equity raise" and Triton's future support put it in good position to weather the downturn in the oil and gas markets and to take advantage of growth opportunities in both the oil and gas and renewable energy markets.

Choose your newsletter by Renewables Now. Join for free!