Eversheds Sutherland advises Baird Capital on the sale of its investment in STR

Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world.

STR is a leading subsea equipment and services provider to the offshore renewables, oil and gas and marine science markets.

Baird Capital invested in STR in January of 2022 and Partner James Benfield joined the board of directors. Baird Capital’s investment supported the rapid expansion of STR’s capabilities and operations in the US and Asia. Over the past three years US revenues grew by over 300%.

This transaction marks a full realization for Baird Capital and is another successful case study of Baird Capital’s longstanding focus on sustainability and businesses supporting the energy transition.

The Eversheds Sutherland team was led by M&A corporate Partner, Catherine Eley, and comprised Amy Bagni, Senior Associate and Klaudia Fusiek, Associate (both corporate). Partner Colin Askew advised on the tax elements of the transaction.

Eversheds Sutherland advised Baird Capital on its original investment in STR in early 2022.

Catherine Eley, Partner, Eversheds Sutherland, commented:

“It’s been an absolute pleasure to support Baird Capital in achieving another successful delivery. Having advised on the original investment in STR, it is particularly exciting to come full circle and assist with its sale. We look forward to continuing to support them on their other successful ventures.”

James Benfield, Baird Capital, commented:

“Cath and the Eversheds Sutherland team proved integral to the successful delivery of this latest transaction. The team’s tenacity and commitment knew no bounds, underpinned by their comprehensive understanding of our strategic business objectives and their technical legal excellence. We’re thrilled.”