Subsea Global Solutions Acquisition of All-Sea Underwater Solutions Combination Creates global leader in providing underwater ship repair, maintenance and marine construction solutions
DENVER, March 02, 2017 – Lariat Partners, a Denver-based private equity firm, today announced that its portfolio company Subsea Global Solutions (SGS) has acquired All-Sea Underwater Solutions (All-Sea), creating a global leader in providing underwater ship maintenance, repair and marine construction solutions.
“We are excited to add All-Sea to the Subsea Global Solutions family which will expand our scope of services, further drive innovation, and broaden our global footprint,” said Paul Peters, Chief Executive Officer of SGS. “We have worked together as partners in this industry for years and have always had a strong alignment of values and cultures. It is great to now bring the entire team together as one.”
Vincent Cummings, CEO of All-Sea added, “This merger into Subsea Global Solutions gives our team the ability to continue our growth and better serve our clientele globally. We are excited to finally merge with our friends and old alliance partners at SGS to deliver complex repairs to ship operators around the world.”
Jay Coughlon, Co-Founder and Managing Partner of Lariat Partners, commented, “The combination of these two industry leading companies falls perfectly in line with our firm’s CORE investment strategy. We look forward to further building this platform and helping the newly expanded SGS continue to drive innovation in the underwater maintenance and repair industry.”
Subsea Global Solutions is the globally formed corporation with wholly owned assets and personnel in Miami, Tampa, Long Beach, Galveston, Curacao, Trinidad, Seattle and Brazil. With dedicated staff situated globally, Subsea Global Solutions has revolutionized the methods of repair and maintenance for ships and advanced procedures used in underwater marine construction. Our name serves to accentuate the shared values of the SUBSEA GLOBAL SOLUTIONS companies, and our commitment to be “The One Source for Global Underwater Solutions.” All offices are approved by the major classification societies.
Established in 1978, All-Sea Underwater Solutions is a world leader in underwater ship repair and maintenance. With locations in Vancouver, Halifax, and St. John, Canada as well as Busan, Korea and Port Angeles, Washington, All-Sea’s dive technicians are highly skilled, well trained and solution-focused with years of experience in all types of conditions. All-Sea has developed specialized, proprietary equipment and procedures to carry out underwater maintenance and technical repairs to the highest standard, anywhere in the world.
About Lariat Partners
Denver-based Lariat Partners is a private equity firm focused on redefining the private equity experience with entrepreneurs in the lower-middle market. With its People First, Strategy Second relationship philosophy and its CORE Investment Strategy targeting COnsolidations, COnsumables and REcurring REvenue businesses, Lariat offers a differentiated approach to partnering with entrepreneurs and growing their middle market businesses. The firm targets companies across a number of industries, including Specialty Agriculture, Environmental Services, Consumer Products and Maritime Services. For more information, visit www.lariatpartners.net.
Mac Hampden, 720-544-6230
Subsea Global Solutions Acquires All-Sea Underwater Solutions
Subsea Global Solutions is pleased to announce the acquisition of All-Sea Underwater Solutions. Together, we will be the global leader in providing underwater ship repair, maintenance and marine construction solutions. The closing of this transaction is effective 2 March 2017.
We would like to take this opportunity to thank you for your business and inform you that we are excited about this transaction as it positions us for future growth and it provides us with more opportunities to serve you. Some of the enhanced benefits that we anticipate include:
- Makes it easier for us to expand our portfolio of repair services so that we can respond faster throughout the world;
- Makes it easier for us to secure and service long-term fleet contracts based on a larger unified corporation with a bigger global footprint;
- Provides a more stable business platform to grow organically and through acquisition of companies globally;
- Strengthens our talent pool of Diver / Technicians so that we can support more jobs concurrently on a global basis.
- Expands our pool of technical resources so that we can continue to innovate new underwater value adding repair solutions to meet your needs.
As we go through this exciting transition, we will honor our existing commitments. We are confident that there will be no disruption in our services and you will continue to receive the excellent service that you are accustomed too.
Our Business Development representative will be in touch with you within the next two weeks to answer any questions you may have. If you have any immediate questions or concerns, please send them to firstname.lastname@example.org . We appreciate your business and we look forward to working with you in the near future.
|Paul Peters||Vincent Cummings|
|CEO||President and CEO|
Semisubmersible Rig Decomissioning- Feb 2017
Subsea Global Solutions is the clients trusted resource for global underwater services. Subsea Global Solutions owns their own strand jacks, has the trained and experienced personnel to prepare large azimuthing thrusters for underwater demounting and has successfully completed several large projects WITHOUT the huge expense of crane barges or secondary crane services. By integrating all of the services underwater one corporate service umbrella, Subsea Global Solutions is a fully integrated Global Diving Contractor able to manage the entire schedule, cost and performance of azimuthing thruster demounting; even when the work is performed hundreds of miles offshore in the middle of the Gulf of Mexico.
During the past several weeks, a team of Subsea Global Solutions diver / technicians were onboard a dynamic positioning semisubmersible drill rig preparing the vessel for long term decommissioning. This included the demounting and storing on deck the eight (8) azimuthing thrusters, blanking all sea chests as well as installing permanent covers over all thruster wells for long term decommissioning. Since the work was done offshore, no crane barge was used and SGS developed a buoyancy controlled lifting solution to transfer the load to the vessel’s large crane. In addition to all of the IN-WATER work, SGS performed the INBOARD work as well as provided SGS owned and operated Strand Jack systems for lowering the Azimuthing thrusters.
From initial planning to final reporting, Subsea Global Solutions executes all portions of the work in between. The client feedback highlights the team’s professionalism, attention to detail and eye on safety. “Captain __________ and myself thought you should know that Jason Campbell and his entire crew have done an outstanding job completing the removal of the thrusters on the vessel. This crew is very safety orientated and are thorough in the duties. Great job!!!”
Please feel free to enjoy SGS’s team in action. See the attached video compilation of the job from start to finish!
Delivering unrivaled service IN AND OUT of the water. Subsea Global Solutions is your global resources for underwater solutions.
Holes in the Hull- Temporary Shell plate Repairs- Jan 2017
While operating in the Caribbean a vessel became aware that they were getting water ingress into one of the void tanks under the main propeller shaft. Subsea Global Solutions was contacted and after a discussion with the class surveyor, vessel management and Subsea Global Solutions engineering staff, it was decided to install a welded doubler plate to cover the breach in the hull during one of the vessels regular port calls. Subsea Global Solutions mobilized a crew to perform Ultrasonic thickness readings to gauge the integrity of the hull plating. Measurements were taken and the plate was fabricated.
Work began on the damaged area of the shell plate and a two-part marine epoxy was applied to seal the hole. The surrounding area was cleaned and prepped so the doubler plate could be installed. The doubler plate was fully welded using a multi-pass fillet weld. The process used by Subsea Global Solutions’ welder / divers is a Class society approved, AWS Class “A” weld. By utilizing this multi-bead process our welder / divers are able to achieve weld qualities with metallurgical properties consistently found in high class top side welds. Upon completion of the welding, all the welds and the heat affected parent metal was properly coated with an underwater epoxy.
The vessel sailed into the sunset safe and secure. Delivering unrivaled in-water service at a moments notice is what Subsea Global Solutions is all about. We are the GLOBAL RESOURCE to turn to for your in-service underwater maintenance and repairs. We remain available to support your needs anywhere and at any time.
We got a leak!- Shaft Seal Emergency Repair- Dec 2016
Following a scheduled dry docking event a vessel departed from the shipyard only to discover that there was a leaking shaft seal.
With the vessel going directly into service an in-service repair solution was required in order to keep the vessel afloat. The client and the Service Provider that initially performed the work in dry dock contacted Subsea Global Solutions to evaluate in-service repair options. After an inspection was performed in the initial port of entry it was determined that the seal assembly would require an in-service inspection and repair. Preparations were made to gain access to the seal assembly. The rope guard was gouged away with Subsea Global Solutions’ specialized Hydro-gouging system. This allowed the welder / divers to gouge away the weld and leave the base material intact thus allowing the rope guard to be easily installed after the work was completed.
While the vessel transited to its next port of call, Subsea Global Solutions mobilized their dive support vessel “She Devil” to meet the vessel for repair in the lower Caribbean. Upon the arrival of the damaged vessel, the team immediately began the installation of Subsea Global Solutions’ TransHab- Flexible Hyperbaric Cofferdam to create a dry environment around the seal assembly. Once installed certified seal / Diver-Technicians entered the Cofferdam and quickly determined the problem with the seal assembly. The seal rings were renewed through a certified bonding process and the system was reassembled. After two (2) working shifts, no leaks were reported and the Transhab Flexible Cofferdam was removed from the vessel so that it could continue on its voyage.
The Delivery of Unrivaled Service is what makes Subsea Global Solutions the leading underwater service provider. We remain available at any time to support your inspection, maintenance needs or emergency repair needs globally. One call and that’s all!
California Lands Commission- Prevention First Conference 2016
Every two years the California State Lands Commission presents its Prevention First symposium. Prevention First is an onshore and offshore pollution prevention symposium and technology exhibition. Experts and professionals from academia, industry, and government from around the country gather at this important event to share information and introduce concepts in pollution prevention with a focus on marine invasive species management, environmental protection, marine oil terminal engineering and maintenance standards, pipeline safety, risk analysis, many other areas involving maritime safety and pollution prevention.
Subsea Global Solutions is well represented and we look forward to you visit us!
SGS US East and SGS Caribbean- Propeller Repairs- Aug 2016
Controllable Pitch Propeller Blade Seal Replacement
While operating in the pristine waters of the Caribbean, a commercial vessel began to lose oil from it’s controllable pitch propeller system (CPP). As the vessel neared the Panama Canal the vessel’s management contacted Subsea Global Solutions (SGS) to investigate and potentially repair the problem while the vessel laid fully loaded in an anchorage awaiting the canal passage.
Upon notification of this emergency, diver / technicians were dispatched to Panama to work together with SGS’s local resources in the area. Upon arrival, gear was loaded and prepared onboard a suitable workboat for working in the outer anchorage. Upon arrival to the vessel a survey of the CPP system, shaft seal and aft section of the vessel was conducted. It was determined that one of the CPP propeller blades was leaking due to a damaged seal.
As the client had spare parts onboard AND SGS arrived to the vessel with all necessary gear to perform an in-water exchange of the propeller blade seal, a repair immediately begun. Internal preparations were made on the vessel to avoid any further loss of oil AND to prevent seawater ingress into the propeller hub. The propeller blade was lowered efficiently using techniques and specialized tooling developed by SGS for this specialized type of repair. The blade seal was efficiently replaced, blade reinstalled and system tested.
With the leak repaired, the vessel was returned to service WITHOUT being taken off-hire. The efficient solution provided by Subsea Global Solutions while the vessel waited in the anchorage for canal passage was invaluable to the client.
Keeping ships in service and assuring environmentally friendly solutions, Subsea Global Solutions is your trusted partner to deliver unrivaled service.
SGS US West- Tunnel Thruster repairs- 2016
Tunnel thrusters are critical pieces of equipment that are integral to the maneuvering process. When a unit is out of service operators incur excessive costs and their risk profile’s increase through the use of Tugs. Subsea Global Solutions provides an OEM and class approved repair while keep the vessel loaded at stable draft and in a position where cargo operations can be conducted.
A tunnel thruster manufacturer contacted SGS US West as they required a warranty inspection and repair be executed on a tunnel thruster on a container ship. Within hours of arrival, the source of the problem was identified. Additional team members mobilized to the location, installed hyperbaric doors on either side of the tunnel thruster to create a dry environment for a permanent repair to be executed.
Another tunnel thruster successfully repaired and another client continuing their shipping voyage with no delay or risk of tunnel thruster failure! Subsea Global Solutions your trusted partner delivering time and time again!
SGS US East, SGS US West and SGS Caribbean- Shaft Seal Repairs- May 2016
Subsea Global Solutions has been very busy in all of their locations globally. During the past two week the Diver / Technicians performed 5 underwater shaft seal repairs globally. Three seals were serviced in the Caribbean, one was serviced in the Gulf of Mexico and the final seal was serviced on the West Coast of the USA. Most of these repairs consisted of the use of the companies TransHab flexible Hyperbaric cofferdam system. Utilizing OEM approved methods of repair combined with factory trained Diver / technicians, Subsea Global Solutions was able to provide ALL of these clients OEM and Class approved repairs while they remained loaded and in service!
Subsea Global Solutions delivering unrivaled service globally. We are your underwater service partner trusted with your valuable assets.
SGS US East Delivers! Tunnel thruster Exchange- May 2016
Another fun day in the Caribbean! Another tunnel thruster exchanged while the vessel remained in service. Great job SGS US East Coast team!
Call today- we serve tomorrow!
Subsea Global Solutions responded quickly to a vessel in need of a shaft seal repair. The team was called into action with only 1 day to pack up gear and prepare to begin work 1/2 way across the country. Personnel were deployed from all of our offices in the USA and, Caribbean to respond quickly and efficiently to this vessel in need. Working around the clock the shaft seal assembly was completely exchanged in 5 working shifts. Utilizing our TransHab Flexible Hyperbaric cofferdam, all the lip rings were efficiently and properly replaced with a factory warranted process. By maintaining diver / seal technicians certified in this type of shaft seal repair, Subsea Global Solutions can provide a fully warranted repair.
Subsea Global Solutions is your turn to resource to deliver in and out of the water! When you vessel depends on quality service there is only one underwater service provider to rely on. Thank you to all of our loyal and dedicated clients globally!
SGS INNOVATION- Making the Impossible- POSSIBLE!
Subsea Global Solutions was the resource hired to develop an innovative solution for the extraction of retractable azimuthing thrusters in a VERY shall environment. This project required several phases using a purpose designed and built hydraulic jacking system to demount and exchange these thrusters. The Azimuthing thrusters were the propulsion system on a specialty vessel which were not originally designed for underwater demounting. Due to the strategic nature of this vessel and its home port location a unique solution was required.
Teams from our SGS East and West Coast offices participated in this ground breaking azimuthing thruster exchange with the Original Equipment Manufacturer. Since this thruster was not designed for underwater demounting and the location was sensitive and shallow, the innovative tension leg track system was employed in this case to demount the lower gear boxes for overhaul and repair.
Subsea Global Solutions is your resource for unrivaled service. Driven by our core values, we make the impossible POSSIBLE each and every day.
Ready for the Weekend Emergencies- Sept 2015
Your trusted resource to deliver Unrivaled Service! Any where at any time, we are always read to GO!!!
Subsea Global Solutions Europe- Trident BV- BUSY UNDERWATER!
Subsea Global Solutions’ European affiliate Trident BV has remained very busy during the first quarter of 2015. Several large emergency and scheduled underwater repairs were performed utilizing the professional Diver / Technicians of Subsea Global Solutions together with our world renowned advanced underwater processes of repair. These large repairs were performed in addition to the routine maintenance and inspection services provided throughout Europe by the professionals at Trident BV.
Four (4) shaft seal replacements were performed over the past two months throughout Europe and the Far East. These repairs included the use of Subsea Global Solutions’ Flexible Hyperbaric Cofferdam “Transhab”. In addition to the use of the Transhab, Subsea Global Solutions employed manufacturer specific wet repairs to face type seals and bellows. By maintaining factory trained Diver / Technicians up to date with the latest seal designs and methodologies of repair, Subsea Global Solutions continues to lead the way in developing cost effective, fast and quality, full warranted repairs for leading shaft seal systems installed on vessels.
Two (2) bow thruster repairs were performed on vessels throughout Europe. These repairs included the use of Subsea Global Solutions’ Flexible Door Technology and “A” class wet welding procedures. The Flexible Door Technology allows dry repairs to be performed on tunnel thrusters while the vessel is afloat and at normal operating drafts. Diver / Technicians trained by the major equipment suppliers perform these repairs in a dry environment in the same fashion the manufacturer’s technicians would do in the dry dock. Wet welding repairs to the thruster struts or tunnels were performed with NO condition of class utilizing the class approved “A” class wet welding procedures and the coded welder / divers of Subsea Global Solutions. By performing these jobs wet, it saves our clients time and money without sacrificing the strength, ductility or quality of the weld.
Three (3) propeller repairs were performed around Europe and in the Far East. Utilizing specialized equipment and techniques, Propellers were safely restored to proper geometry to ensure continual operation with minimal or no loss of propeller efficiency. By maintaining a close relationship with most major propeller manufacturers, we are able to deliver excellence each and every time.
In addition to the repairs listed above our European office repaired or removed nine Fixed mounted Energy Savings Devices on large container ships. Due to defects found on these devices some owners opted to have them completely removed and some owners preferred Subsea Global Solutions to permanently repair these devices with their class approved underwater wet welding techniques.
Additional specialty repairs included the installation of several Finned Propeller Boss caps, propeller modifications as well as cruise vessel stabilizer fin repairs.
Subsea Global Solutions continues to deliver UNRIVALED service globally. Our European affiliate Trident BV exemplifies our mission. We remain available globally to work with you anywhere and at any time!
Emergency Repairs- Propeller Removal with Vessel in Service
Emergencies happen on vessels each and every day. Cruise ship operators rely on the capabilities of Subsea Global Solutions to deliver unrivaled service. While operating in the Caribbean, a cruise vessel detected deterioration of a critical bearing in one of it’s propulsion azimuthing thrusters. Even with the thruster taken out of service, the windmilling of the propeller continued to deteriorate the bearing increasing it’s risk of complete failure. To avoid a complete failure and to ensure the vessel remained in service, Subsea Global Solutions was called into to remove the built up propeller.
Working with the cruise ship operations staff, Subsea Global Solutions project management and operations staff evaluated the itinerary of the vessel and developed a port by port time line. Once approved, critical equipment was strategically placed in the necessary ports of call and work begun.
Subsea Global Solutions prepared the propeller for extraction. This required that the epoxy fairing the propeller blade hold down bolts into the propeller to be completely extracted from the blade bolt holes. This process required the epoxy to be hydro-blasted away completely using a specialized hydro-blaster specifically configured for this application.
In the next port of call blade extraction was performed. Subsea Global Solutions placed all rigging into place so that blades could be efficiently extracted from the propeller and rigged on-shore. Using a hydraulically configured ratcheting wrench configured for underwater applications, Subsea Global Solutions efficiently extracted all the blade bolts on each blade. Blades were removed one-by-one to the surface and the azimuthing thruster was now free of any risk of continued bearing deterioration..
Throughout the entire process Subsea Global Solutions’ project management staff maintained time line communications with ship and operational management staff. This ensured that the vessel could leave on time without impact or delay.
Subsea Global Solutions yet again demonstrates what unrivaled service is all about. We do what you say when we say we’re going to do it! We do it safely, efficiently and on-time. This is what Subsea Global Solutions is all about and we look forward to working with you.