Brightwood Capital Advisors, a private credit firm, has refinanced existing indebtedness of Subsea Global Solutions, a portfolio company of GenNx360 Capital Partners. Financial terms of the transaction were not disclosed.
“We are pleased to support our partners at GenNx360 through the refinancing of Subsea, which provides efficient and safe underwater solutions to marine assets in a wide range of global markets,” Scott Porter, managing director at Brightwood, said. “We look forward to our continued relationship with GenNx360 and the future of Subsea, as it focuses on creating and delivering critically needed underwater technological solutions to its growing global client base.”
“Brightwood’s knowledgeable team and ability to deliver flexible financing solutions have been critical to Subsea’s future growth plans,” Lloyd Trotter, founder and managing partner at GenNx360, said. “The underwater maintenance industry provides key solutions to help sustain numerous core markets in our global economy, including commercial shipping, cruise shipping and offshore oil and gas. We are pleased to support Subsea’s continued contributions to these sectors and look forward to opportunities to partner with Brightwood in the future.”
