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Triton Diving Has Acquired the Diving Assets of Louisiana Oilfield Divers

BOULDER, Colo.--(BUSINESS WIRE)-- Triton Diving Services, LLC (“Triton” or the “Company”), an affiliate company of Grey Mountain Partners ("Grey Mountain"), has acquired the diving assets of Louisiana Oilfield Divers (“LOD”), including the Premier Explorer, a 208-foot, 4-point vessel.

Mark Jeansonne, CEO of Triton Diving Services, said, “The LOD acquisition strengthens Triton’s position as the dominant shallow water (0-300’) commercial diving contractor operating in the Gulf of Mexico. The additional capacity provided by this acquisition will allow us to better serve our customers.”

Beth Lesniak, Vice President of Grey Mountain, said, "With a 20-ton lift capacity, accommodations for 40 crew and a fully functioning machine shop, the Premier Explorer vessel is an excellent addition to Triton’s growing dive service vessel fleet. We look forward to serving customers that have already utilized the Premier Explorer and enhancing our ability to respond to our customers’ current needs in the Gulf of Mexico and abroad.”

ABOUT TRITON DIVING SERVICES, LLC

Triton is an offshore commercial diving services provider focused on the Gulf of Mexico with a leading position in surface diving activities. Triton’s best-in-class safety record and focus on customer service has earned the Company a reputation for high-quality, incident-free performance. With an owned fleet of seven vessels, approximately 260 employees, and offices in Metairie, Amelia and Houston, the Company provides decommissioning, maintenance, inspection and repair, and emergency services to the major operators and engineering firms in the offshore oil and gas market. For more information, please visit www.tritondiving.net.

ABOUT GREY MOUNTAIN PARTNERS

Grey Mountain Partners is a Boulder, CO-based private equity firm that focuses on partnering with management to create lasting value through operational improvements. Grey Mountain invests in lower middle-market companies across a wide range of industries and in transactions with enterprise values between $30 million and $150 million. For more information, please visit www.greymountain.com.

Grey Mountain Partners
Jason Urband, 303-449-0269
Senior Associate

Source: Grey Mountain Partners