Baird Capital Exits Investment in STR

LONDON (10 Dec. 2024) – Today, Baird Capital’s Global Private Equity team announced the sale of its investment in STR (Subsea Technology & Rentals) to Star Capital.

STR is a leading global subsea sensor equipment and solutions provider to the offshore energy, infrastructure and marine science markets.

Baird Capital invested in STR in January of 2022 and Partner James Benfield joined the board of directors. Baird Capital’s investment supported the rapid expansion of STR’s capabilities and operations in the US and Asia. Over the past three years US revenues grew by over 300%. This transaction marks a full realization for Baird Capital and is another successful case study of Baird Capital’s longstanding focus on Sustainability and businesses supporting the Energy Transition.

Steve Steele has served as CEO of STR since 2022 and will continue to lead the business under Star Capital’s ownership. Steve commented: “Baird Capital has been a very proactive and supportive  investor given our alignment around collaboration, culture and values. They have been a strong partner supporting the international growth of STR and the continued focus on technology development. They had a keen understanding of what drives value in private equity backed businesses which has set us up for success in this next chapter.”

James Benfield said: “It’s been a privilege to work with the talented team at STR; they should all be very proud of the success they have achieved over the past three years. We are excited to watch their continued development and growth supporting the energy transition in the years to come.”

Baird Capital was advised by DC Advisory (M&A Advisor), Eversheds Sutherland (Legal) CIL (Commercial), Rystad (Market), Deloitte (Financial & Tax), RPS (HSE), Endava (IT) and Sustainable Advantage (ESG)

About STR

Subsea Technology & Rentals (STR) is a specialist subsea sensor technology and solutions company providing equipment and solutions globally to the offshore marine sectors.  For over 20 years, STR has delivered mission critical solutions to support offshore survey, ROV, IRM, positioning, environmental and subsea construction sectors. As an innovative company STR understands the importance of developing new technology and delivering class leading services to give customers the very best solutions.

For more information, visit STR’s website.

About Baird Capital

Baird Capital manages two investment platforms, Venture Capital and Global Private Equity, and invests in B2B technology and services-focused companies worldwide. Founded in 1989, the group focuses on investing in sub-sectors where it has deep institutional knowledge and leveraging global operating capabilities to support the operational and growth needs of partner companies. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit BairdCapital.com.

Baird Capital Partners Europe Limited is authorised and regulated by the Financial Conduct Authority.

For additional information, contact:

Baird Public Relations
publicrelations@rwbaird.com
414-765-7250

H/Advisors Maitland
baird-maitland@h-advisors.global
+44 (0) 207 379 5151