Grey Mountain invests in diving firm

BOULDER – Grey Mountain Partners LLC, a private-equity firm based in Boulder, has invested in Triton Diving Services LLC, a company that offers commercial diving services to oil and gas companies operating in the Gulf of Mexico.

Grey Mountain vice president Beth Lesniak declined to disclose terms of the investment. Triton, based in Metairie, Louisiana, plans to use the money to buy related companies, among other things, the two companies said in a press statement. The dive company does maintenance, inspection and repair in conjunction with operators and engineering firms in the offshore oil and gas market.

“Triton’s expertise in surface diving, strong customer relationships, and attractive marine assets distinguish the company as a market leader in the Gulf of Mexico shallow water diving niche,” Lesniak said in the statement.

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Triton has a fleet of six vessels, about 175 professional divers, and offices in Metairie and Amelia, Louisiana and in Houston.

Grey Mountain Partners invests in smaller middle-market companies with values between $30 million and $150 million, the company said in the statement.