Offshore industry acquisition cements law firm’s expertise | 13 September 10
LAW firm Ward Hadaway has advised a leading international offshore equipment company on the acquisition of the assets of a rival business.
Commercial law experts at Ward Hadaway provided legal advice to Cortland Fibron BX on its purchase of the assets of RGES International Ltd, which specialises in marine barrier protection systems and vehicles arrest launchers and systems for the offshore sector.
Cortland Fibron is part of the international Actuant Group of companies, which includes Morpeth-based Hydratight Operations Limited.
The acquisition of the assets of RGES International for Hertfordshire-based Cortland Fibron is the latest in a series of matters on which Ward Hadaway has advised Actuant Group companies.
Cortland Fibron, which manufactures umbilicals, hoses and cables for the offshore and subsea industries, has acquired the company for an undisclosed sum.
Philip Jordan, partner in the commercial department at Ward Hadaway, led the law firm’s team advising on the deal.
Damien Charlton, also a partner in Ward Hadaway’s commercial department, has advised on other work for the Actuant Group.
Philip said: “We are delighted to have helped Cortland Fibron BX on this acquisition, which enhances the range of products and services which the company can offer the offshore and subsea industries.
“While this is the first matter on which we have advised Cortland Fibron, our experience in the sector and with other companies in the Actuant Group helped to ensure the success of the transaction.”
Over the past two and a half years, Ward Hadaway has advised the Hydratight group on a range of contract and general commercial matters, including intellectual property issues and group reorganisation.
Hydratight specialises in bolted joint solutions and machining services to the Power Generation, Oil and Gas, Industrial and Aero industries and is acknowledged as a world leader in its field.
The international nature of the group’s work means that Ward Hadaway has advised Hydratight on a range of agreements covering countries including Russia, Kazakhstan, Brazil and Kuwait.
Nick Gemmell, global legal counsel at Hydratight, said: “I have been very impressed with Ward Hadaway’s ability to provide practical commercial advice in a timely and cost-effective manner.
“This first class service is complemented by friendly, proactive lawyers who display a depth of knowledge which engenders confidence in our business transactions.”
Ward Hadaway’s work for Hydratight has helped it to secure work for other companies within the Actuant Corporation, a $1.2bn group listed on the New York Stock Exchange with operations in over 30 countries and a total workforce of more than 6,000 people.
The firm advised hydraulics specialist Enerpac on the sale of its Hevilifts brand to Middlesex-based Structural Systems (UK) Ltd.
Enerpac is a market leader in high-force hydraulics and its equipment was used to help move the giant claw-like stage on rock band U2’s 360˚ world tour.
Damien Charlton said: “Working with companies in the Actuant Corporation group has been a very rewarding experience and we hope to continue offering them high quality legal advice in the years to come.”
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