Lariat Partners Announces Sale of Subsea Global Solutions

DENVER, April 3, 2018 /PRNewswire/ -- Lariat Partners ("Lariat"), a Denver-based private equity firm, announced today the sale of Subsea Global Solutions LLC ("Subsea"), a leading global provider of underwater ship maintenance, repair and marine construction solutions, to GenNx360 Capital Partners.

With history dating back to 1945 and headquartered in Miami, Florida, Subsea Global Solutions currently employs a team of over 115 highly trained, expert diver technicians providing essential underwater maintenance, inspection, and repair services to vessel owners and operators within diversified marine transportation and construction sectors.  The Company's routine hull maintenance services help reduce fuel consumption and its highly trained technical repair solutions reduce operators' dry-docking costs, while keeping the vessel in service.  It operates a dedicated staff situated in service locations located throughout North America, South America and Korea. Subsea Global Solutions has revolutionized the methods of repair and maintenance for ships and advanced procedures used in underwater marine construction. Visit www.subseasolutions.com.

Lariat made its original investment in Subsea in November 2013 and during its ownership undertook numerous initiatives in partnership with Subsea's management to strengthen and improve the business.   Lariat expanded the management team, built a more robust sales force to drive organic growth, and established a more scalable global platform by opening greenfield offices in Galveston, TX, Brazil, and Seattle, WA.  Subsea also completed two transformative add-on acquisitions that expanded the company's operations into Canada and Asia.

Jay Coughlon, Co-Founder and Managing Partner of Lariat, said, "We are very pleased to complete this successful transaction and we would like to thank Paul Peters, Subsea's CEO.  Under Paul's leadership, Subsea became a truly global service provider and greatly enhanced its already leading technological advantage."

Paul Peters, CEO of Subsea, said, "With Lariat's active involvement, we greatly expanded our scope of services and operations by entering new geographic markets in North and South America, as well as Asia to become a better trusted resource to our global clients."

Houlihan Lokey served as the exclusive financial advisor to Lariat and Subsea, and Brownstein, Hyatt, Farber and Schreck served as legal advisor.

About Lariat Partners
Denver-based Lariat Partners is a private equity firm focused on partnering with business owners and entrepreneurs in the lower-middle market. With its CORE Investment Strategy targeting COnsolidations, COnsumables and REcurring revenue businesses, Lariat offers a differentiated approach to partnering with business owners and entrepreneurs and growing their middle market businesses. Using CORE, Lariat has invested in companies across many industries, including Food and Agribusiness, Energy and Environmental Services, Consumer Products and Services, Specialty Distribution, and Industrial Services.  For more information, visit www.lariatpartners.net.

Contact: Chris Tofalli
Chis Tofalli Public Relations, LLC
914-834-4334

SOURCE Lariat Partners