Sallyport backs Louisiana pipeline erosion specialist Submar in third platform deal
What's the deal? Houston-based private equity firm SallyportDealroom has a profile for this one. Try Dealroom → has invested in Submar, a Louisiana pipeline erosion remediation business, in a growth equity deal announced July 8, 2026. It marks the third platform investment in Sallyport's flagship fund, Sallyport Partners Fund, LP.
What does Submar do? Based in Thibodaux, Louisiana, the company provides mostly onshore pipeline erosion remediation, with offshore capabilities. Over four decades, it has built out articulated concrete mat systems, turnkey remediation services, and specialised deployment equipment for energy and infrastructure operators nationwide.
Why now? Sallyport's Kyle Bethancourt, managing partner, cited "key industry tailwinds including aging infrastructure, increased regulatory scrutiny, and rising natural gas demand driven by LNG exports and gas-fired power generation build-out."
What's the endgame? Sallyport brings midstream sector relationships and a track record from prior investments including T.D. WilliamsonDealroom has a profile for this one. Try Dealroom →, NavitasDealroom has a profile for this one. Try Dealroom →, and the Remote Operations Center. "We see meaningful opportunities to accelerate growth," said Ryan Howard, another managing partner at the firm.
Who runs it? Submar will keep its existing management team, led by president Joseph Fournet. "Our customers and business partners will continue to receive the same exceptional level of service, safety, and attention to detail that has built Submar's reputation," he said.
The signal: Founded in 2023, Sallyport is building a portfolio around the infrastructure that keeps oil and gas flowing rather than the commodities themselves. The bet on erosion remediation reflects a wider view that aging pipelines and tighter rules will drive steady, recurring demand — regardless of energy price swings.
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