SCF Partners has sold Shelf Subsea to DeepOcean, facilitating a strategic merger that enhances service offerings and positions both companies for significant growth in the subsea services industry.

Information on the Target

Founded in 2015, Shelf Subsea is a leading subsea services provider, jointly established by SCF Partners, Viburnum Funds, and a consortium of seasoned subsea industry professionals. The company, headquartered in Perth, Australia, has successfully positioned itself as a trusted partner in subsea services across diverse sectors, including offshore oil and gas, renewable energy, telecommunications, and civil engineering. Shelf Subsea boasts a global footprint with strategic operations in Singapore, Indonesia, Malaysia, Papua New Guinea, and Saudi Arabia, and has executed projects in over 30 countries.

Under the leadership of CEO Colin McGinnis, Shelf Subsea has expanded its capabilities through strategic acquisitions, enhancing its service offerings significantly. The company has established a robust reputation as a turnkey provider of subsea solutions, marked by the operation of three advanced dive support vessels and an impressive portfolio of subsea assets, such as remotely operated vehicles (ROVs) and diving systems. With a workforce of approximately 200 personnel, Shelf Subsea continues to deliver complex subsea projects in both shallow and deep waters.

Industry Overview in Australia

The subsea services industry in Australia is a crucial component of the broader energy and resources sectors. As a country rich in natural resources, Australia has seen significant investments in offshore oil and gas exploration and production. This