May 28, 2024

Company to Watch: Triton-backed subsea services firm DeepOcean increases revenues and order intake in 2023 - revenues of USD 627m (+11% YoY)

Finansavisen
Norwegian subsea company DeepOcean, owned by PE firm Triton since 2016, has released its 2023 annual report, showing revenues of USD 627m (+11% YoY). This growth was driven by diversification into sectors such as renewables and offshore installation recycling, which now account for approximately 30% of the total order book, supplementing its traditional oil and gas operations. The company reported an EBIT of USD 56m in FY23, down from USD 66m in FY22, primarily due to significant investments in technology and operational methods for projects related to the development of diverless solutions, considered as effects specific to 2023. The order intake for the year was NOK 7.12bn, with an order backlog of NOK 4.82bn at year-end. DeepOcean anticipates further growth, supported by several important framework agreements with Equinor for subsea infrastructure repair and underwater cable and pipeline inspections, as well as a framework agreement in its growing market in Africa.
Transaction announcement
Originally surfaced by NKP | M&A Insights as:
What's next in this sector?
NKP | M&A Insights tracks 1,700+ M&A opportunities across Northern Europe — from emerging situations to live and paused processes — the majority of which are non-public and not covered by conventional M&A news channels.
Request Trial Access
August 30, 2023

Update: The Evercore-advised process for Triton's subsea services firm DeepOcean is still ongoing, however, the focus has changed towards a refinancing in the short-term followed by a renewed sale or IPO attempt, most likely during H1-2024 - according to several sources (NKP Proprietary)

[log in to app.mainsights.io to read the full analysis as it was originally presented]
NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
March 30, 2022

Company to watch: Subsea services firm DeepOcean - a Triton portfolio firm since 2016 - is benefitting dramatically from the surge in oil and gas prices and is a likely exit (IPO) candidate for H2-2022 following a successful turnaround of the UK activities, integration of a new ERP system, and a new financing agreement - according to sources (NKP Proprietary)

[log in to app.mainsights.io to read the full analysis as it was originally presented]
NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)

FAQs

Answers to questions you might have about NKP | M&A Insights.

What does M&A Insights do?

Established in 2018 by a former private equity investment professional, NKP | M&A Insights is an independent intelligence provider serving investors and advisory firms active in private M&A markets.

We deliver proprietary, subscriber-only coverage of live and emerging M&A situations, supported by structured data on historical transactions, ownership developments, and valuation benchmarks.

Who is M&A Insights for?

NKP | M&A Insights serves professional participants across the M&A ecosystem who rely on early, accurate market intelligence.

Our subscriber base includes private equity funds, direct lenders, investment banks, corporate finance boutiques, law firms, audit and advisory firms, strategy consultancies, and transaction insurance providers.

How is M&A Insights different from traditional providers?

NKP’s coverage differs from traditional providers along three dimensions: breadth, timing, and analytical approach.

First, we surface materially more relevant live situations by relying primarily on non-public sources and systematic signal monitoring, resulting in several times higher coverage density across sectors and size tiers within the markets we cover.

Second, situations are typically identified and verified at an earlier, pre-process stage, providing subscribers with earlier visibility than public or transaction-driven channels.

Finally, NKP is built by and for investment professionals. Our team’s financial background - and the firm’s origins in private equity - are reflected in an investor-centric, data-driven research model focused on decision-useful insight rather than journalistic reporting.

​Which markets does M&A Insights cover?

NKP focuses on proprietary M&A intelligence across the Nordics, DACH, and UK & Ireland, primarily covering lower mid-market and larger transactions.

On average, we surface 4–6 new actionable opportunities per weekday across these markets, typically several months before they reach public or traditional M&A news channels.

Our coverage spans live, coming, and paused processes, supported by structured historical transaction data and valuation benchmarks to provide context alongside timing signals.

Where does M&A Insights gets its information from?

NKP is a primary intelligence platform focused on non-public M&A processes across Northern Europe.

Our coverage is built through a combination of bilateral primary sources - including company owners, investors, and intermediaries - continuous monitoring of market signals, and internal verification and enrichment prior to publication.

We operate with strict source protection standards and never disclose sources without explicit permission.

What is the business model of M&A Insights?

NKP operates on a pure subscription model. Clients pay a fixed annual fee for access to our intelligence platform and coverage.

We do not charge for editorial coverage, receive referral or success fees, or participate in transactions. This structure ensures our incentives are aligned solely with delivering high-quality, decision-useful intelligence to our subscribers.

​Where is M&A Insights based?

NKP is headquartered in Hellerup, Denmark.

Our team combines native language capabilities with financial and analytical backgrounds, supporting our deep regional focus across Northern Europe.

How do I access the M&A Insights platform?

Access to NKP | M&A Insights is provided through an active subscription. Subscribers receive daily email coverage and have personal login credentials for the platform.

If you already receive our daily emails, you can access the platform at app.mainsights.io. If needed, credentials can be recovered via the “Reset password” function on the login page.

If you are unsure whether your organisation has an active subscription, or require assistance with access, please contact support@mainsights.io

What does the pricing look like?

NKP | M&A Insights is offered on a subscription basis, with pricing determined by team size and footprint.

Subscriptions are tailored to professional users. Trial access may be offered in select cases upon request.

What if I want to share information with NKP about a company or transaction?

We welcome relevant information relating to private M&A activity.

You may contact us via the form on our Contact page or by emailing research@mainsights.io. We treat all communications confidentially and do not disclose sources without explicit permission.

How do advisors submit transactions for league tables?

Advisors may submit completed transactions for league table inclusion by emailing advisors@mainsights.io.

Submissions should include the advisor’s role (e.g. sell-side corporate finance), the target company name and country, and deal value where available. Supporting details can be provided in spreadsheet format.

We typically acknowledge submissions within 24–48 hours.

Explore a subscription

For private equity funds, M&A advisors and lenders seeking early, validated and signal-driven M&A intelligence across Northern Europe.
Explore a subscription