Delta Marine Technologies and CSL Capital Announce the Formation of Delta SubSea
HOUSTON--(BUSINESS WIRE)--Delta Marine Technologies, Inc. (“DMTI”) announced today the formation of Delta SubSea, LLC (“Delta SubSea” or the “Company”). Delta SubSea was formed through the contribution of the pre-existing DMTI business into the newly-formed Delta SubSea, which was then re-capitalized with significant new equity capital from CSL Capital Management, LLC (“CSL Capital” or “CSL”).
DMTI was founded by Scott Dingman in 2004 and is a leading provider of engineering and personnel contracting services for the global offshore oil and gas industry. Going forward, the Company will continue to offer these services while also making a major expansion into ROV services for offshore operators and contractors. The Company expects to enter into a multi-year framework agreement with a major manufacturer of ROV systems. Delta SubSea’s fleet will be focused on work class ROV solutions for customers in the inspection, repair and maintenance, construction, drilling and decommissioning market segments. Mr. Dingman will continue to lead the Company as its Chief Executive Officer and co-owner.
Scott Dingman said “We are very pleased to partner with CSL Capital to form a leading integrated independent provider of ROV services and solutions that complements our existing project management, engineering and consulting business. We at Delta SubSea strive to be best-in-class in all we do and this is the core philosophy of our new ROV business. We look forward to serving our customers with rapid deployment of customized solutions for the challenges of the offshore oil and gas industry.”
About Delta SubSea, LLC
Delta SubSea is a leading integrated independent provider of ROV services and solutions to the offshore oil and gas industry. In addition to ROV services, the Company provides a full suite of integrated engineering, project management and consulting services for offshore oil and gas projects. Delta SubSea is headquartered in Montgomery, TX.
About CSL Capital Management, LLC
Founded in 2008, CSL Capital is a provider of growth equity capital for the global energy sector. CSL has an established track record of backing experienced entrepreneurs to build oilfield services companies. Through several investment vehicles, CSL has raised in excess of $650 million of equity capital and commitments. CSL has offices in Greenwich, CT and Houston, TX.
Contact:Delta SubSea, LLC
Scott Dingman, 936-582-7237