Subsea Technology & Rentals (STR)

We provided Environmental, Health & Safety due diligence advice to Baird Capital’s Global Private Equity team during its investment in Subsea Technology & Rentals (“STR”), a leading independent subsea rental equipment and specialist services provider to the offshore energy industry.

Key details

Project name

Subsea Technology & Rentals (STR)

 

Client

Baird Capital

Location

UK (5 sites); Singapore (1 site); and Australia (2 sites)

 

Services provided:

- Environmental, Health & Safety due diligence

STR is a specialist technology company providing rental and sales services globally to the offshore marine sectors. STR delivers mission critical solutions to support offshore survey, ROV, IRM, positioning, environmental and subsea construction sectors.

Challenge

Our client commissioned us to provide detailed Environmental, Health & Safety due diligence advice during its investment in the target company, STR, which operates in the UK (Aberdeen and Great Yarmouth), Singapore, USA (Houston) and Australia (Perth).

We conducted site inspections of the UK facilities and desk-based studies of the Australian and Singaporean facilities within a challenging timescale.

 

offshore rig

Solution

Providing due diligence advice, our role entailed reviewing virtual data room information, holding discussions with the STR management team and carrying out site inspections.

Our positive approach to the client’s needs facilitated the rapid assembly of a team of specialists in the UK, Singapore and Australia, and by completing site visits within a tight timescale we were able to deliver our advice in a timely manner.

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