I think of DPDW as a special kind of roll-up--one where the pieces complement each other rather than duplicating each other.
In the simple roll-up, you basically are buying the company's customers, then you squeeze out duplicate administrative functions. DPDW is doing much more than this--they are buying companies in different niches of the subsea business, then cross-selling both product lines. They actually get more than that, as the combined companies begin to have the capability of offering "one-stop shopping". Furthermore, DPDW, and its acquisitions have the common denominator of being technology leaders in a growing sector--that means pricing power.
Think of putting the pieces of a jigsaw puzzle together as opposed to stacking them on top of each other.
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