Monthly Archives: March 2017

Subsea Global Solutions Acquisition of All-Sea Underwater Solutions Combination Creates global leader in providing underwater ship repair, maintenance and marine construction solutions

 

DENVER, March 02, 2017 – Lariat Partners, a Denver-based private equity firm, today announced that its portfolio company Subsea Global Solutions (SGS) has acquired All-Sea Underwater Solutions (All-Sea), creating a global leader in providing underwater ship maintenance, repair and marine construction solutions.

“We are excited to add All-Sea to the Subsea Global Solutions family which will expand our scope of services, further drive innovation, and broaden our global footprint,” said Paul Peters, Chief Executive Officer of SGS.  “We have worked together as partners in this industry for years and have always had a strong alignment of values and cultures.  It is great to now bring the entire team together as one.”

Vincent Cummings, CEO of All-Sea added, “This merger into Subsea Global Solutions gives our team the ability to continue our growth and better serve our clientele globally.  We are excited to finally merge with our friends and old alliance partners at SGS to deliver complex repairs to ship operators around the world.”

Jay Coughlon, Co-Founder and Managing Partner of Lariat Partners, commented, “The combination of these two industry leading companies falls perfectly in line with our firm’s CORE investment strategy.  We look forward to further building this platform and helping the newly expanded SGS continue to drive innovation in the underwater maintenance and repair industry.”

 About SGS

Subsea Global Solutions is the globally formed corporation with wholly owned assets and personnel in Miami, Tampa, Long Beach, Galveston, Curacao, Trinidad, Seattle and Brazil. With dedicated staff situated globally, Subsea Global Solutions has revolutionized the methods of repair and maintenance for ships and advanced procedures used in underwater marine construction. Our name serves to accentuate the shared values of the SUBSEA GLOBAL SOLUTIONS companies, and our commitment to be “The One Source for Global Underwater Solutions.”  All offices are approved by the major classification societies.

 About All-Sea

Established in 1978, All-Sea Underwater Solutions is a world leader in underwater ship repair and maintenance.  With locations in Vancouver, Halifax, and St. John, Canada as well as Busan, Korea and Port Angeles, Washington, All-Sea’s dive technicians are highly skilled, well trained and solution-focused with years of experience in all types of conditions.  All-Sea has developed specialized, proprietary equipment and procedures to carry out underwater maintenance and technical repairs to the highest standard, anywhere in the world.

 About Lariat Partners

Denver-based Lariat Partners is a private equity firm focused on redefining the private equity experience with entrepreneurs in the lower-middle market.  With its People First, Strategy Second relationship philosophy and its CORE Investment Strategy targeting COnsolidations, COnsumables and REcurring REvenue businesses, Lariat offers a differentiated approach to partnering with entrepreneurs and growing their middle market businesses.  The firm targets companies across a number of industries, including Specialty Agriculture, Environmental Services, Consumer Products and Maritime Services.  For more information, visit www.lariatpartners.net.

Contacts

Lariat Partners

Mac Hampden, 720-544-6230

Subsea Global Solutions Acquires All-Sea Underwater Solutions

Subsea Global Solutions is pleased to announce the acquisition of All-Sea Underwater Solutions. Together, we will be the global leader in providing underwater ship repair, maintenance and marine construction solutions. The closing of this transaction is effective 2 March 2017.

We would like to take this opportunity to thank you for your business and inform you that we are excited about this transaction as it positions us for future growth and it provides us with more opportunities to serve you.  Some of the enhanced benefits that we anticipate include:

    1. Makes it easier for us to expand our portfolio of repair services so that we can respond faster throughout the world;
    2. Makes it easier for us to secure and service long-term fleet contracts based on a larger unified corporation with a bigger global footprint;
    3. Provides a more stable business platform to grow organically and through acquisition of companies globally;
    4. Strengthens our talent pool of Diver / Technicians so that we can support more jobs concurrently on a global basis.
    5. Expands our pool of technical resources so that we can continue to innovate new underwater value adding repair solutions to meet your needs.

As we go through this exciting transition, we will honor our existing commitments. We are confident that there will be no disruption in our services and you will continue to receive the excellent service that you are accustomed too.

Our Business Development representative will be in touch with you within the next two weeks to answer any questions you may have. If you have any immediate questions or concerns, please send them to rick@sgsdiving.com . We appreciate your business and we look forward to working with you in the near future.

Sincerely,

Paul Peters Vincent Cummings
CEO President and CEO
Paul@sgsdiving.com Vincent@all-sea.com