Eversheds Sutherland advises Baird Capital on its investment in Subsea Technology & Rentals

Eversheds Sutherland has advised long-standing client, Baird Capital, on its investment in Subsea Technology & Rentals (STR), a leading independent subsea rental equipment and specialist services provider to the offshore energy industry.

Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world and is the direct private investment arm of Baird.

The funding will allow STR to develop its equipment and service offerings through organic and acquisition-led 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.

The Eversheds Sutherland corporate team was led by Partner Catherine Eley, Senior Associate Tom Jackson and Associate Amy Bagni. The global law firm also provided banking advice, led by Partner Ben Tumelty, Senior Associate Catherine Jones, and Associate Zoe Hyde.

The terms of the deal were not disclosed.

Catherine Eley, Eversheds Sutherland, said:

“We’re thrilled to have supported Baird Capital on yet another strategically notable transaction, drawing upon our comprehensive understanding and knowledge of their transaction process to ensure we were able to provide a seamless full service offering, including harnessing the expertise of our relevant international offices to secure the very best outcome possible.

“The deal market continues to surge – private equity funds and corporates alike are actively exploring the various opportunities available. We’re very much looking forward to another busy year.”

Andy Dyer, Baird Capital, said:

“It’s been a pleasure to work with Eversheds Sutherland again. We have worked together on a number of transactions over the years, and their effective technical legal excellence continues to set them apart in the market. Baird Capital consider Eversheds Sutherland a trusted partner and look forward to working together in the future.”