Company Research Report: Phoenix International Holdings, Inc.

Company Overview

• Name: Phoenix International Holdings, Inc.

• Mission: To deliver innovative underwater services worldwide with a focus on safety, efficiency, and advanced robotics.

• Founded: 1997 by six underwater operations experts.

• Key People:

• Patrick Keenan, PE - President

• Michael Kutzleb - CEO and Chairman of the Board

• Eric Lindberg - Board of Directors

• John Smith - Board of Directors, Co-Founder

• Headquarters: Largo, Maryland

• Number of Employees: 201-500

• Revenue: No information is available

• Known For: A marine services contractor providing manned and unmanned underwater operations, design engineering, and project management services across diverse sectors, focusing on underwater search and recovery, engineering, commercial diving, inspection, maintenance, repair, and more.

Products

Service Offerings

1. Air, Mixed Gas & Nitrox Diving:

• Certified commercial diving teams available 24/7 for offshore/inland inspection, repair, and maintenance tasks to 300 feet sea water (fsw).

2. Atmospheric Diving Systems:

• HARDSUIT™ ADS for manned underwater presence up to 1,200 fsw.

• Key Features: Longer working times, flexibility, ability to access confined spaces, reduced project times and costs.

3. Autonomous Underwater Vehicles (AUVs):

• AUV for deepwater survey and inspection, capable of high-precision navigation and terrain following.

4. Remotely Operated Vehicles (ROVs):

• ROV systems for global mission support, including Remora III and xBot® micro-ROV for inspection, repair, maintenance tasks, with high maneuverability and cost-effectiveness.

5. Underwater Welding:

• Professional underwater welding for offshore and commercial shipping industries.

6. Nondestructive Testing:

• Inspection services including magnetic particle, ultrasonic, and general visual inspections.

7. Ship Repair and Maintenance:

• Extensive capabilities for repair and maintenance across commercial vessels, oil platforms, and marine infrastructure.

Recent Developments

• Leadership Changes: Appointment of Travis Niederhauser as General Manager─Pacific Region to oversee operations in San Diego and Hawaii, pursuing growth opportunities.

• Employee Recognitions: Mitchell Loyd named Largo Employee of the 2nd Quarter 2024 for outstanding contributions, including project leadership and patent application co-invention.

• Project Completion:

• Completed an Underwater Inspection in lieu of Drydocking (UWILD) for Talos Energy on the Thunderhawk platform in the Gulf of Mexico. Extensive inspections performed over 36 days with Nondestructive Testing (NDT) to maintain asset quality.

• Technology and Engineering Innovations:

• Employee Stock Ownership Plan (ESOP) adopted in 2007.

• Acquisition of “Artemis” AUV in 2012, enhancing deep water survey capabilities.

• Development of specialized systems like the xBot® micro-ROV and ROV units for unique and challenging underwater tasks.

• Infrastructure Expansion: Establishment of multiple facilities across the United States and internationally to support diversified operations and enhance service delivery.

• International Ventures: In 2019, Phoenix International (Australia) Pty Ltd secured a contract with the Commonwealth of Australia for submarine rescue services, deploying a Submarine Escape, Rescue, and Abandonment System (SERAS).

Phoenix International Holdings, Inc. continues to strengthen its market position through technological innovation, strategic expansions, and a commitment to safety and efficiency across the marine services sector.