M&A Deal Summary

Subsea Acquires Gray Diving Services Pty.

On November 11, 2019, Subsea acquired marine company Gray Diving Services Pty.

Acquisition Highlights
  • This is Subsea’s 3rd transaction in the Marine sector.
  • This is Subsea’s 1st transaction in Australia.

M&A Deal Summary

Date 2019-11-11
Target Gray Diving Services Pty.
Sector Marine
Buyer(s) Subsea
Deal Type Add-on Acquisition

Target

Gray Diving Services Pty.

Sydney, Australia
Gray Diving Services Pty. Ltd. is a commercial diving firm. Gray Diving Services offers both underwater and marine civil engineering and construction solutions. This includes marine and underwater consultancy, design, specialist fabrication, welding, and nondestructive testing. Gray Diving Services Pty. Ltd. was founded in 1945 and is based in Sydney, Australia.

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Buyer(S) 1

Buyer

Subsea

Miami, Florida, United States

Category Company
Sector Marine
DESCRIPTION

Subsea is a provider of underwater vessel maintenance, inspection and repair services to vessel owners and operators within diversified marine transportation and construction sectors. Subsea services include hull and propeller fleet management, underwater wet welding, seal replacement, tunnel thruster repair, azimuth thruster repair, and environmental hull cleaning. The Company provides both routine hull maintenance services to drive fuel efficiencies and highly technical repair solutions allowing vessel operators to reduce dry-docking costs, while keeping the vessel in service. Subsea is headquartered in Miami, Florida.


DEAL STATS #
Overall 4 of 5
Sector: Marine M&A 3 of 3
Type: Add-on Acquisition M&A Deals 4 of 5
Country: Australia M&A 1 of 1
Year: 2019 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-11 Underwater Contractors Pte.

Singapore, Singapore

Underwater Contractors Pte. Ltd. is a provider of commercial diving and marine-related services primarily to the commercial shipping industry. Underwater Contractors Pte. Ltd. was founded in 1979 and is based in Singapore.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-14 SRN Group

Stabroek, Belgium

SRN Group is an operator of underwater services and Remotely Operated Vehicle (ROV) hull cleaning firm. SRN Group is based in Stabroek, Belgium.

Buy -