Oaktree Capital buys Integrated Subsea Services

It is believed that Lloyds Banking Group and Coller Capital are vendors in the transaction. Reports also suggest that ISS will work in partnership with Iremis, another Oaktree portfolio company.

Previous funding
Bank of Scotland Integrated Finance (BOSIF) invested £80m of growth funding in ISS in an April 2008 deal valued at £143m. In July 2010, new parent company Lloyds Banking Group sold BOSIF's entire portfolio to Cavendish Square Partners, an investment vehicle held jointly by Coller Capital (70%) and Lloyds Banking Group (30%).

Company
Integrated Subsea Services, founded in 2002, provides support services, including diving and remotely operated underwater vehicles, to the oil & gas industry. The company is headquartered in Aberdeen, in the UK, with regional offices in Singapore, Australia and Azerbaijan.

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