Oslo, 24 March 2025
The sale provided Triton IV investors with a return of 4.8x MOIC on the combined invested capital, or the option to roll into the new vehicle to participate in DeepOcean’s future growth.
Significant capital was provided by new and existing institutional investors; DeepOcean’s management team; and by Triton’s executives in alignment with both new and rolling investors. A portion of the new commitments will be available to DeepOcean to use as follow-on capital to support continued growth.
DeepOcean was originally acquired by Triton in 2016 and supports the energy transition and sustainable use of ocean resources through services including surveying; engineering; inspection, maintenance & repair; installation and recycling. DeepOcean has experienced strong growth, and its EBITDA has increased by approximately 6x during Triton’s ownership to date.
Kristian Diesen, Investment Advisory Professional at Triton stated: “DeepOcean has been transformed under Triton’s ownership to a market leading partner for blue-chip energy sector clients seeking technology driven, efficient, and innovative ocean solutions. This sale helps meet investors’ demand for liquidity while allowing Triton to continue to invest in DeepOcean’s growth in a $7 billion addressable market.”