Subsea Technology & Rentals (STR) is delighted to announce its continued investment in Innova A/S’s Matrix MKII+ systems.
This investment will see an additional six Matrix MKII+ systems delivered to support an increased demand in customer requirements in the Offshore Energy Industry.
The Matrix is an established and proven stand-alone fibre optic multiplexer and control solutions. It provides a simple plug and play interface for a large array of sensors and equipment to any remotely operated system offering reliable power management and strong diagnostic capabilities to help simplify and enhance the efficiency of survey operations.
Neil Jackson, STR’s Regional Director EMEA said, “We are pleased to further bolster our fleet of rental multiplexers with this new investment in the Matrix MKII+. Our customers value the capability and flexibility offered by these systems along with their user friendliness and ease of integration with existing ROV systems. As we continue to go from strength to strength with the investment by Baird Capital, we welcome the opportunity to further build upon our existing relationship with Innova A/S by adding these additional systems to our fleet”.
Eivind Brimsø, Sales Director at Innova AS, said: “Eivind Brimsø, Sales Director at Innova AS, said: “We have been working together with STR for many years and are very excited to support their continued investment in the latest survey technologies. We believe that our systems offer inimitable performance and flexibility while maintaining the openness and ease of use that are important to STR and its customers.”
STR Contact Information:
Photograph: Neil Jackson and Siril Nossum
Web: www.str-subsea.com
Email: ka.henney-cant@str-subsea.com
Tel: 01493 445440
Subsea Technology & Rentals (STR) is pleased to announce its continued investment in iXblue subsea navigation systems, strengthening its global rental fleet.
STR’s investment notably includes the acquisition of iXblue’s long baseline (LBL) system; Canopus, making them the first rental company to offer the system for hire. Part of iXblue’s sparse LBL solution, Canopus brings together intelligent transponders, Ramses transceivers, Inertial Navigation Systems(INS), and Delph Subsea Positioning Software. It is also a third-party friendly solution able to be easily integrated within existing operational fields.
The addition of iXblue’s Rovins and Rovins Nano Inertial Navigation Systems,as well as Gaps M5 ultra short baseline (USBL) system, furthers STR’s already significant investment in these technologies. The new systems join their global rental pool available from their five international service hubs.
STR’s Chief Operating Officer, Scott Johnstone says, “As we have entered 2022, we have welcomed the investment by Baird which will vault the growth trajectory of STR internationally in terms of our products and resources. This investment with iXblue is STR’s largest to date in our 20 years of offering our customers iXblue products. As a global leader whose proven technology is recognized worldwide within our industry, their systems are great assets to have and they’ve always met our customer’s requirements. In 2021 we invested in the Gaps M5and these systems have been widely utilized by our customers on geophysical surveys for offshore wind farm site investigations, and other tracking and towed services”.
Based on fibre-optic gyroscope technology, iXblue navigation solutions have become standard in the offshore industry. An asset for offshore wind farms, Gaps M5 is a ready-to-use and calibration-free system that offers accurate location, positioning and unrivaled horizontal tracking of subsea assets. It integrates an Attitude and Heading Reference System (AHRS) for stable heading roll and pitch compensation and a true north reference.
“STR has taken a position of expansion in the past year, and we are thrilled to help bolster their rental fleet to support their international growth,” says iXblue’s Regional Sales Manager, Maverick Piccininni. “It shows their commitment to their customers; by investing in a dynamic fleet of equipment they are able to adapt and respond quickly to their needs.” Added Piccininni.
Another successful cooperation between Subsea Technology & Rentals and the MacArtney Underwater Technology Group leads to the addition of the just-launched NEXUS 8 multiplexer to STR’s rental inventory.
Historically STR have been investing in MacArtney multiplexers for years, with the custom NEXUS MK-C being a customer favourite. The NEXUS 8 is a natural step for a portfolio supplement, meeting needs and demands from – among others – the globally accelerating offshore renewables industry.
Scott Johnstone, Group Managing Director of STR, states: “STR are pleased with the addition of the NEXUS 8 MacArtney Underwater Technology Multiplexer systems to our rental inventory… For our customers, a key deliverable is the ability to gather huge amounts of data, and the NEXUS MK-C and NEXUS 8 will ensure this can be facilitated.”
Phil Middleton, Managing Director, MacArtney UK, complements: “STR have a track record of being the first to invest in new products on many occasions. And we’ve benefited from their input to our technical team, a policy we actively encourage and pursue with all our customers.”
We are happy to see our experience and loyal customer input culminate in the next generation multiplexer and maintain the rewarding cooperation with STR.
LONDON—18 Jan. 2022— Baird Capital’s Global Private Equity team today announced an investment in Subsea Technology & Rentals (“STR”), a leading independent subsea rental equipment and specialist services provider to the offshore energy industry. The terms of the deal were not disclosed.
The funding will allow STR to develop its equipment and service offerings through organic and acquisition-lead growth. The investment will also enable STR to further expand its geographical reach, with the Americas, mainland Europe and Southeast Asia being a key focus for the company, supporting the rapidly growing offshore wind sector.
Steve Steele will lead STR as Chief Executive Officer alongside Scott Johnstone, Chief Operating Officer. In addition, James Benfield and Andy Dyer from Baird Capital also join the board.
Since 2011, STR has become a leading independent provider of subsea technology and services to the subsea energy market with a strong customer base built on culture, teamwork, commitment and responsiveness, with innovation at the core of its ethos. The business operates globally with facilities in Aberdeen, Great Yarmouth, Houston, Perth and Singapore. STR operates the youngest equipment fleet in the segment and offers its customers integrated, forward-thinking technology and innovative engineering solutions, complete with dedicated project support from planning to completion.
Steve Steele, CEO, said: “I am delighted to announce Baird Capital’s investment in STR. STR has grown from a small independent subsea equipment rental business into one of the most trusted international providers of subsea technology and technical services for customers across the offshore energy industry.
“This deal signals confidence both in our business and the long-term role STR will play in the future energy transition. This new investment will enable us to strengthen our product and service offering, extend our geographic footprint and pursue complementary acquisitions. It’s a great opportunity for STR’s customers, employees and suppliers around the world.
“I am also happy to welcome James and Andy to the Board. It’s a very high calibre Board that will bring a wealth of experience as we seek to deliver our growth ambitions.”
Scott Johnstone, COO, commented: “I am very pleased that Steve Steele and Baird Capital all recognise STR’s strong market position and share our excitement in the growth of offshore wind in America, Asia and Europe. The combined expertise of the new Board and the additional funding this transaction brings will allow us to further support our long-term customers around the globe.”
“We are thrilled to partner with STR and assist the team in their global growth ambitions,” said Andy Dyer, Director with Baird Capital’s Global Private Equity team. “We were attracted to STR due to its solutions-based approach to the provision of highly technical survey equipment into the subsea sector, which is set to benefit from significant infrastructure investment, particularly into offshore wind. With a geographic footprint that matches our own, we are ideally structured to support Steve, Scott and their talented team to grow the business and support their customers worldwide.”
Baird Capital was advised by Eversheds Sutherland (Legal), Grant Thornton (Financial and Tax Diligence) and CIL Management Consultants (Commercial Diligence).
About STR
Subsea Technology & Rentals (STR) was established in Scotland and is a specialist technology company providing rental and sales services globally to the offshore marine sectors. For over 20 years, STR has delivered mission critical solutions to support offshore survey, ROV, IRM, positioning, environmental and subsea construction sectors. As an innovative company STR understands the importance of developing new technology and delivering class leading services to give customers the very best solutions. For more information, visit STR’s website.
About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 330 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in the United States, Europe and Asia, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit BairdCapital.com.
Baird Capital Partners Europe Limited is authorised and regulated by the Financial Conduct Authority.
STR Contact Information:
Photograph: Scott Johnstone and Steve Steele
Web: www.str-subsea.com
Email: ka.henney-cant@str-subsea.com
Tel: 01493 445400
Media Contact:
Maitland/AMO
Alasdair Lennon
Email: alennon@maitland.co.uk
Tel: +44 (0) 207 379 5151
Subsea Technology & Rentals (STR) is delighted to announce the launch of the ‘STR SeaTow-6000’ Electric Winch.
The announcement of STR’s latest product was made at Ocean Business 2021 in Southampton, United Kingdom.
The STR SeaTow-6000 is the latest addition to STR’s class leading field proven electric winch systems that are used extensively for hydrographic, geophysical, and oceanographic survey globally.
This winch is designed for deep water applications typically utilising 6000m of 11.4mm armoured coaxial cable. Alternative armoured fibreoptic cables can also be supported. Typical applications for the STR SeaTow-6000 are sidescan sonar, combined sidescan sonar and sub-bottom profiler systems, marine magnetometers, gradiometers, drop camera systems and oceanographic sensors.
Scott Johnstone, STR’s Group Managing Director said “As the industry’s elite gather at Ocean Business 2021 to celebrate the Offshore Energy Industry with a key focus on marine survey, we couldn’t think of a more appropriate platform to launch the STR SeaTow-6000 Electric Winch.
Our innovative and diverse team of highly skilled engineers have developed this winch from the key feedback they have received from our customers and their operational requirements. As we progress into 2022, we will look to further compliment our Electric Winch range with the launch of the STR SeaTow-500 and STR SeaTow-2000″.
Subsea Technology & Rentals (STR) is delighted to announce its ‘world first’ delivery of two EdgeTech 2050-DSS systems.
The systems have arrived at STR’s Perth Facility, where they are currently being prepared for operations in Asia Pacific. Jason French, STR’s Asia Pacific Regional Director, said “Our continuous investment, and strong partnership with EdgeTech has led to us being the first to offer this new technology to the subsea rental market. We continue to offer the very latest technology from our suppliers, and it is pleasing to see this equipment mobilise on its maiden project and committed to projects through to 2022 with our valued customers. I’m excited to see them performing in the field”.
Over the past twelve months, STR has invested in the continuous delivery of EdgeTech’s sonar imaging systems and underwater technology to support its global customers. With EdgeTech’s recent introduction of the new combined tri-frequency side scan sonar and high resolution sub-bottom profiling sonar systems, the 2050-DSS will provide customers with the ability to operate the systems on different frequencies simultaneously.
Doug McGowen, EdgeTech’s Director, Sales & Marketing, said “The versatility of the new 2050-DSS makes it a great asset in the subsea rental market. It is exciting to see the enthusiasm for this product by both the end-users and the companies that provide the tools and services enabling successful surveys throughout the world”.
The system can be provided with either a 120, 410 & 850 kHz towfish, or a 230, 540 & 850 kHz towfish. Both towfish options are equipped with a 2-16 kHz sub-bottom profiler, that utilises a PVDF panel receive hydrophone. Use of an area based receive hydrophone panel provides improved beam patterns and therefore improved signal to noise ratios, which in turn means cleaner data for the operators.
The 2050-DSS comes complete with a combined towfish, digital telemetry that runs over a single coaxial cable, a 19-inch rack mount topside interface, and EdgeTech’s DISCOVER acquisition software. The 2050-DSS can be integrated with several auxiliary sensors such as magnetometer and USBL responder. Additionally, an interface is fitted to the electronics so that the electronics and sensors can be mounted onto an ROV. The 2050-DSS is ideal for applications such as cable and pipeline surveys, marine construction surveys, pre and post dredging surveys and more.
Subsea Technology & Rentals (STR) is delighted to announce the launch of its Americas Entity ‘Subsea Technology & Rentals Inc.’ based in Houston, Texas.
This strategic expansion is being driven by STR’s Board of Directors, following the recent success of our International expansions in Australia and Singapore. Scott Johnstone, Group Managing Director said, “We are delighted to announce the launch of STR in the Americas which will enable STR to deliver its full suite of technology and support services locally. This expansion allows STR to service existing customers in the region with the expertise, and range of services they have grown to expect, but also allows us to develop relations with new customers. This firmly positions STR as a global leader in the provision of subsea technology”.
To lead the expansion, STR have appointed Ka Henney-Cant as Vice President for the region. Scott Johnstone, Group Managing Director, said, “Ka has been a key member of the STR management team since 2017 and has orchestrated our International Expansions into Australia and Singapore. The experience and knowledge Ka has gained commercially, legally, and technically in developing and exporting our UK business into new regions will set strong foundations for STR’s success in the Americas”.
To support operations in the region, STR welcomes Mike Knight as VP of Operations, and Alex Iglesias as Technical Operations Supervisor. Both Mike and Alex have been instrumental in establishing the business in its early stages on the ground in Houston, while the overseas management team have unfortunately been unable to travel. Their hard work and dedication to STR’s existing customers and ongoing projects have helped to set the groundwork for what will become a significant operating region for STR.
Ka Henney-Cant said “Today is a great day for everyone at STR, as we share the news of our expansion. While 2020 has been challenging, I am very proud of everyone at STR who have supported our growth into a new region, a move which epitomises our key values to bring commitment and responsive solutions to our customers”.
