Triton to acquire a majority interest in DeepOcean.

Triton Partners acquired a majority interest in DeepOcean Group Holding, a leading provider of subsea services for the oil & gas and renewables industries. Financial terms were not disclosed. "We want to support the management and employees of DeepOcean as a stable and knowledgeable owner in investing in and supporting the future growth and development of the company. We will contribute with our strategic insights and operational know-how in this industry", Peder Prahl, Director of the General Partner for the Triton funds. "This transaction has achieved two key objectives for DeepOcean. Firstly, in Triton we have found a new reputable lead shareholder with key competencies in strategy, business development and operational excellence to support the company going forward. Secondly, with the capital raise we have ensured a significant strengthening of our balance sheet and an improved liquidity position and outlook. In today’s markets, having a strong and committed owner and a solid balance sheet is an important competitive advantage as our clients’ increasingly focus on counterparty solidity and long-term viability when awarding contracts" Bart Heijermans, Chief Executive Officer of DeepOcean.