Sallyport invests in Louisiana pipeline remediation firm Submar
Sallyport’s undisclosed investment in Submar is the third platform deal for its flagship Sallyport Partners Fund, PE Hub reported.
By Rafael Ortiz · Fintech Correspondent
· 2 min read
Sallyport has invested in Submar, a Louisiana-based company that works on pipeline erosion remediation, PE Hub reported. Financial terms were not disclosed, limiting outside assessment of valuation, ownership structure or expected return profile.
The transaction is the third platform investment for Sallyport Partners Fund, LP, the firm’s flagship fund, according to PE Hub. A platform investment is typically the initial operating-company holding around which a private equity sponsor may build scale through organic growth or add-on acquisitions, although PE Hub did not report any specific expansion plan for Submar.
Submar’s business focuses on erosion control and remediation for pipeline infrastructure. PE Hub said the company’s offerings include articulated concrete mat systems, turnkey remediation services and specialized deployment equipment.
Articulated concrete mat systems are used to provide protective cover and stabilization in areas where erosion can expose or threaten infrastructure. Turnkey remediation services generally indicate that a contractor manages a broader scope of work rather than supplying only materials or equipment. PE Hub did not provide detail on Submar’s customer base, revenue, geographic footprint or project backlog.
Submar will remain under its existing leadership team following the investment, PE Hub reported. That team includes president Joseph Fournet.
The deal adds to private capital activity tied to energy infrastructure services, where spending needs are often linked to maintaining existing assets as well as building new ones. In Submar’s case, the reported investment targets a niche service provider whose work is connected to protecting pipeline assets from erosion-related risk.
PE Hub did not report the date of closing, the size of Sallyport’s stake, the amount of capital committed, the identity of any sellers or whether debt financing was used. No advisers were named in the report.
This story draws on original reporting from PE Hub.
