Subsea Technology & Rentals (STR) has announced Star Capital as its new majority shareholder. This investment will enable STR to enhance its equipment and services through both organic growth and acquisitions.
Additionally, it will expand STR’s presence in global offshore energy and infrastructure markets, with a new base in Norway set to open early next year.
Steve Steele will remain as Chief Executive Officer, with Stuart Bannerman continuing as Chief Financial Officer. Uniti Bhalla and Philipp Moy of Star will join the STR board. Following Star Capital's investment, Baird Capital has exited the business.
STR provides subsea sensor technology and solutions globally to the offshore marine sectors. For over 20 years, STR has supported offshore survey, ROV, inspection, repair and maintenance, positioning, environmental, and subsea construction sectors.
