TRANSACTION ANNOUNCEMENT

18th February 2020
Press Release
Subject: Subsea Global Solutions Acquires The Commercial Diving Division of T&T Salvage Asia, Pte Ltd (Singapore)

Subsea Global Solutions (SGS), the world’s leading commercial diving company, has today announced that it has acquired the commercial diving division of T&T Salvage Asia, Pte Ltd. (TTSA). The acquisition will serve to enhance SGS’ capabilities in Singapore and strengthen its leading position in the Asia-Pacific region.

Commenting on the acquisition, Paul Peters, CEO of SGS said; “This is a strategic addition to our recent acquisition of Underwater Contractors Pte. Ltd. Singapore (UWC). Creating a single platform under the SGS umbrella with the most advanced technologies, special repair equipment, and more than 40 skilled diver/technicians will give us the optimum operational efficiency as well as the bench depth to deliver unparalleled value to our customers in this highly competitive market.”

Capt. Satnam Singh Kumar, Managing Director-Asia Pacific for SGS said; “I am excited to take on the challenge of integrating both UWC and the commercial diving division of TTSA under the SGS brand and building the most capable commercial diving company in Singapore. TTSA has a great reputation and will complement UWC’s capabilities nicely, as we aim to transform the commercial diving industry globally, focusing to raise the bar on the safety and quality overall in all segments we operate in.”

Kevin Teichman, Founder and Owner of TTSA added, ” We are delighted to partner with SGS in this deal which will allow the Singapore Diving Entity to continue providing unparalleled service to our clients while also building upon the services offered. Diving remains an integral part of our salvage and emergency response business, so aligning with the world’s largest commercial diving organization with a similarly impressive safety track record will yield greater opportunities for both sides, and most importantly our clients will have access to a wider array of services.”

About SGS

Subsea Global Solutions is the globally formed corporation with wholly owned assets and personnel in USA (Miami, Tampa, Long Beach, Houston, Port Angeles), the Caribbean (Curacao, Trinidad), Canada (Vancouver, Halifax, Saint John), South Korea (Busan), Singapore, Australia (Sydney), and Brazil. With dedicated staff situated globally, Subsea Global Solutions has revolutionized the methods of repair and maintenance for ships and advanced procedures used in underwater marine construction. Our name serves to accentuate the shared values of the SUBSEA GLOBAL SOLUTIONS companies, and our commitment to be “The One Source for Global Underwater Solutions.” All offices are approved by the major classification societies.

About TTS

TTSA’s roots go back to 1957 when Kevin’s father, Rudy Teichman, established T&T Marine Ways Inc., a small shipyard on the end of Teichman Point in Galveston, Texas, which later expanded and specialized in salvage, emergency response and other related services along the Texas and Louisiana coasts. T&T Salvage, a leading salvage and wreck removal company has gradually expanded its global footprint with over 40 response locations across the USA and its territories, as well as operational bases in South America, Europe, and Asia by providing true commitment and service to its clients

www.subseaglobalsolutions.com

Contact:

Harun Duzgoren
Executive Director
Subsea Global Solutions
+1 305 571 9700
harun.duzgoren@sgsdiving.com

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Carmen Rojas
Director of Investor Relations
GenNx360 Capital Partners
+1 212 257 6772
crojas@gennx360.com