M&A Deal Summary

Lime Rock Partners and Transocean Acquire Liquila Ventures

On November 17, 2022, private equity firm Lime Rock Partners and Transocean acquired marine company Liquila Ventures

Acquisition Highlights
  • This is Lime Rock Partners’ 3rd and Transocean’s 1st transaction in the Marine sector.
  • This is Lime Rock Partners’ 1st and Transocean’s 1st transaction in Bermuda.

M&A Deal Summary
Date 2022-11-17
Target Liquila Ventures
Sector Marine
Buyer(s) Lime Rock Partners
Transocean
Deal Type Joint Venture

Target

Liquila Ventures

Bermuda
Liquila venture's purpose is to acquire a newbuild drillship, Hull 3623, from Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME). The drillship, formerly known as West Aquila, is ultra-deepwater and dual-activity.

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Buyer(S) 2

Buyer

Lime Rock Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 10.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

Lime Rock Partners is a private investment firm focused on growth capital investments in the energy industry. Specifically, Lime Rock looks for companies engaged in exploration & production, energy service, and oil service technology in North America and Europe. Lime Rock's target investment size is $50 to $150 million in businesses valued up to $500 million. Lime Rock Partners was formed in 1998 and is affiliated with Lime Rock Resources. Lime Rock Partners has offices in Westport, Connecticut; Aberdeen, Scotland; and Houston, Texas.

DEAL STATS #
Overall 89 of 92
Sector (Marine) 3 of 3
Type (Joint Venture) 6 of 6
Country (Bermuda) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Silvertip Completion Services

Midland, Texas, United States

Silvertip Completion Services is an oilfield services company that owns and operates 23 wireline units and a best-in-class pump-down fleet. Silvertip has deep data collection capabilities, a culture of data-driven decision-making, and an established track record of safety, providing operators with efficient wireline and pump-down services including logging, perforating, and pressure control. Silvertip Completion Services was founded in 2017 and is based in Midland, Texas.

Sell $150M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-29 Ardyne

Aberdeen , United Kingdom

Ardyne delivers downhole products and services for plug and abandonment and slot recovery operations in the global oil and gas sector. Ardyne is focused on cutting operators’ costs and reclaiming rig time by bringing the right service approach and appropriate new technology to optimize end-of-field operations. Ardyne was founded in 2015 and is based in Aberdeen, Scotland.

Sell -
Buyer

Transocean

Steinhausen, Switzerland
Category Company
Founded 1926
Sector Oil/Gas Exploration
Employees5,430
Revenue 2.8B USD (2023)
DESCRIPTION

Transocean is a provider of offshore contract drilling services for energy companies, owning and operating among versatile fleets with a particular focus on deepwater and harsh-environment drilling. Transocean was founded in 1926 and is based in Steinhausen, Switzerland.

DEAL STATS #
Overall 7 of 7
Sector (Marine) 1 of 1
Type (Joint Venture) 1 of 1
Country (Bermuda) 1 of 1
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-29 Ocean Minerals

Grand Cayman, Texas, Cayman Islands

Ocean Minerals is a company engaged in the exploration of seabed resources containing metals critical to the growing renewable energy market. Ocean Minerals is a provider of Cobalt and Rare Earth Metals sourced from the deep ocean floor to the world’s global resource markets. Ocean Minerals is based in Grand Cayman, Cayman Islands.

Buy -
Mergr

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