Simmons UK announce $2.3 Billion of oil and gas deals in 2012

Wednesday, Jan 23, 2013

Simmons & Co in Aberdeen today announced that it completed 14 deals in 2012 with a total value of $2.3billion, more than double the total value of deals completed by the firm in 2011.  The Aberdeen office led these UK and international deals, which represent a significant share of the 48 M&A transactions completed by Simmons & Company International Group.

The corporate finance advisers to the energy sector have played a significant role in many of the most prominent transactions that took place across the oil and gas service sector in 2012 including deals subsea, well services, drilling and completions sectors.

Colin Welsh, chief executive officer at Simmons said: "Getting the best result for our clients in the current environment has been challenging because the market dynamics keep changing as new buyers emerge and the sector becomes more geographically diverse. It helps that we focus exclusively on energy because our market intelligence is always current".

In the subsea sector, the sale of Acteon to KKR and the divestment of GustoMSC by SBM to Parcom Capital were prominent deals. 

Significant transactions in technology included the sales of Zenith, Red Spider Technology, Petrowell and Nessco to Lufkin, Halliburton, Weatherford and Rignet Inc. respectively.

On the buy side, Simmons represented Tetra Technologies Inc in its acquisition of Aberdeen based rig cooling specialists Optima and assisted Pheonix Equity Partners in their acquisition of Gall Thomson Environmental in the flow control sector.
 
Mr Welsh added: "The industry is undergoing an incredible amount of change and growth and we need to keep on top of that and respond appropriately if we are to continue to be entrusted with mandates like these and deliver results that are at the top end of our clients’ expectations".