LONDON (24 September 2013) - International law firm McDermott Will & Emery advised Actuant Corporation (NYSE: ATU), a diversified industrial company in the acquisition of Viking SeaTech from HSBC Private Equity for £150 million. Viking SeaTech is a specialist support company based in Scotland that provides services and equipment to the oil and gas industry principally in the North Sea (UK and Norway) and Australia.
Actuant Corporation, headquartered in Menomonee Falls, Wisconsin, is a $1.5bn diversified industrial company with operations in more than 30 countries. Commenting on the transaction, Robert C. Arzbaecher, Chairman and CEO of Actuant stated, “Viking represents a great addition to Actuant’s energy platform and will be included within the Energy segment. Its leadership position in the largest offshore regions, strong technical competency and solid management team have allowed Viking to generate above average growth and margins.”
Corporate partners Helen R. Friedli and John P. Tamisiea in Chicago led the McDermott Will & Emery team with support from antitrust partner Andrea Hamilton in Brussels. The team were assisted by Eleanor West, Matthew Herrington, James Noble and Caroline Thackeray in London.
Commenting on the deal, Russell Van Praagh says: “Viking presents a great opportunity for Actuant to build up their offering in the oil and gas sector. We are pleased that we have been able to advise Actuant on this important acquisition for them”.
Allen & Overy acted for HSBC Private Equity and Addleshaw Goddard acted for the senior management team of Viking SeaTech.
About McDermott Will & Emery UK LLP in London
McDermott Will & Emery in London is long established and many of our partners are recognised as leaders in their fields. McDermott’s London office complements the Firm’s capabilities in Belgium, France, Italy and Germany. McDermott in Europe has a strong focus on the energy sector, and extensive experience of advising institutions, corporates and management on the acquisitions and disposals of private equity assets.
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,100 lawyers, we have offices in Boston, Brussels, Chicago, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, D.C. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.