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Subsea Technology & Rentals (STR) has secured STAR Capital Partnership LLP (STAR) as its new majority shareholder, as the global subsea sensor equipment and solutions provider sets out an ambitious growth strategy, targeting offshore energy, infrastructure and marine science markets.
The investment will enable STR to further evolve its equipment and service offering through organic and acquisition-led growth. It will also expand the company’s geographical presence to clients across growing global offshore energy and infrastructure markets, with a new base in Norway set to open early next year.
Steve Steele will continue to lead STR as Chief Executive Officer alongside Chief Financial Officer, Stuart Bannerman. Uniti Bhalla, managing partner and Philipp Moy, principal of STAR will join the STR board.
Steve Steele, CEO, said: “Securing STAR as our new majority investor will unlock significant growth potential as we plan to enter new markets and further boost our disruptive technology offering. We have undergone a significant transformation over the last few years from an equipment rental business to be one of the most trusted international providers of subsea sensor technology and services across the offshore energy, infrastructure and marine markets, and we intend to go much further.
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