Stephenson Harwood advises DeepOcean on acquisition of Shelf Subsea
Law firm Stephenson Harwood LLP has advised DeepOcean, a leading ocean services provider, on its acquisition of Shelf Subsea, in a transaction that marks a significant step in DeepOcean's international growth strategy.
DeepOcean, a portfolio company of investment firm Triton Partners, will acquire 100% of the shares in Shelf Subsea, expanding its geographic footprint into Southeast Asia, Australia, and the Middle East. The combined group will include approximately 1,800 employees and is expected to generate annual revenues exceeding US $1 billion.
Shelf Subsea will be integrated into DeepOcean, strengthening the company's regional presence and service offering in Asia-Pacific and the Middle East. The acquisition supports DeepOcean's strategic ambition to globally expand its operating model, leveraging engineering and project management expertise, proprietary technologies, an extensive subsea tool pool and ROV capabilities.
The Stephenson Harwood team was led by Corporate Partner Karima Hudson and Associate James Gracey, with support from across the firm's London and Singapore offices. Singapore law advice was provided by Virtus Law Partner Sheetal Sandhu and Associate Claris Saw.
Stephenson Harwood acted alongside Norwegian counsel Advokatfirmaet Thommessen AS. Local law advice was provided by HopgoodGanim (Western Australia), Christian Teo & Partners (Indonesia) and Lim Jo Yan & Co (Malaysia).
