The subsea sector is keeping a close eye on the private-equity (PE) firms because these deep-pocketed players, which bankrolled several new subsea contractors when times were hot, are now expected to be some of the first to exit now that times are turning cold.
“In general, the industry is very much following the PE-backed companies these days and there are a fair few of them, too, which sprang up in the last upturn of the cycle,” one of the sector’s leading subsea brokers told TradeWinds this week.
