Oslo (Norway), 22 May 2025
Since acquiring DeepOcean in 2016, Triton has supported its transformation journey from a European player into a world-leading ocean services provider that supports the energy transition and the sustainable use of ocean resources. This has been achieved by shifting the company to an asset-light business model, refocusing on its core offering, and increasing its geographical reach in key markets. Today, DeepOcean provides a full range of services to clients within offshore renewables, oil & gas, ocean minerals, and other non-energy niches.
The acquisition of Shelf Subsea marks the sixth add-on acquisition under Triton’s ownership, following the acquisitions of Btwn (2024), Installit (2022), Adepth Minerals (2021), Delta Subsea (2018) and Searov Offshore (2017). In addition to expanding the business’ global reach into Southeast Asia, Australia and the Middle East, the transaction will underpin the group’s growth. Following the transaction, the combined group will employ approximately 1,800 people and is expected to generate over USD 1 billion in annual revenue.
Øyvind Mikaelsen, CEO of DeepOcean, commented: “DeepOcean and Shelf Subsea offer similar services but have distinct geographical strongholds that complement each other effectively. When combined, we will provide customers worldwide with access to a comprehensive pool of expertise and capabilities. We look forward to combining our leading technology and innovative solutions with Shelf Subsea’s operations in the APAC region, as well as gaining valuable learnings from their leading project model. We are very impressed by the customer relations built up by the management of Shelf Subsea.”