SUBSALVE USA Acquisition
SUBSALVE USA has been acquired by Performance Inflatables Co. The business will continue to operate, with its current staff, at its current location, as a subsidiary of Performance Inflatables Co. Details of the transaction remain private.
“The additional support, resources, and knowledge of Performance Inflatables Company, will provide a force multiplier to SUBSALVE USA to continue and further accelerate its leading position and enhance its new products growth across the world” said Richard Fryburg, who founded Subsalve USA in 1977 and has assumed the role of chief growth officer. “My entire management staff and I are truly excited about this new joint prospect and the vision that Performance Inflatables Company has for the industry.”
“We have been impressed with SUBSALVE USA’s commitment to customers, its innovation, top-quality reputation and dedicated staff throughout this process, and we plan to support this great foundation in the years to come,” said Richard Heath, who has joined the company as CEO. “SUBSALVE USA has been at the forefront of this industry working with the most demanding clients including the US military, Oceaneering International Inc., McDermott Caspian Contractors Inc., Ardent and many other industry leaders across many sectors around the world. In addition, we look forward to adding to the capabilities of the business, and to expanding its impact regionally, globally and into adjacent product areas.”