Performance Inflatables Company Acquires SUBSALVE a Global Leader & Pioneer in Buoyancy Solutions
SUBSALVE USA and Performance Inflatables Company, jointly announced today the acquisition of SUBSALVE USA by Performance Inflatables Company. The business will continue to operate, with its current staff, at its current location, as a subsidiary of Performance Inflatables Company. 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 the founder of Subsalve USA in 1977 who has assumed the role of Chief Growth Officer, adding, "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. 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 expand its impact regionally, globally and into adjacent product areas" said Richard Heath who has joined the company in the role of CEO.