Portfolio

Overview

In December 2024, STAR agreed to acquire Subsea Technology & Rentals (“STR”), a leading global subsea sensor equipment and solutions provider to the offshore energy, infrastructure and marine science markets. STAR became the majority owners alongside a consortium of co-investors and management.

The company manages a large and diversified fleet of specialised subsea equipment that it provides to leading offshore engineering and service firms. STR operates globally with facilities in Aberdeen, Great Yarmouth, Houston, Perth and Singapore.

STR fits well within STAR’s specialist rental and “assets as a service” investment theme. It also exhibits a number of the strategic qualities STAR looks for in its investments: it has a leading position in a growing market driven by structural tailwinds and is a key enabler of the offshore energy transition. The company provides a mission critical service to its customers, often under long term agreements, and has built strategic relationships with its blue-chip clients through a relentless focus on high quality service. Lastly, STR is being led by an excellent team with decades of relevant industry experience and a clear strategic vision for growth.

str-subsea.com