LAW firm Watson Burton recently advised WS Atkins plc on the acquisition of global consulting and engineering company, Pöyry PLC.
The Newcastle firm, which has offices in Leeds and London, worked with Atkins, one of the world’s leading engineering and design consultancies, in its purchase of the oil and gas businesses of Pöyry PLC’s energy group for £15m.
The acquired business specialises in providing engineering, design and operational support services for offshore developments in the oil and gas industry. Atkins is integrating the business into its market operations in the UK, Europe, Middle East and North America.
Completion of the transaction has resulted in Atkins acquiring the shares of Pöyry Pty Ltd (Perth, Australia), Pöyry Energy Ltd (Aberdeen) and Pöyry Energy A/S (Stavanger, Norway).
The combined annual net sales of the three units are approximately £20m and they employ 130 people. The acquisition will further strengthen the company’s service offerings to the oil and gas industry.
Keith Clarke, chief executive of Atkins said: “This acquisition represents a step up in Atkins’ ability to deliver process-led multi-disciplinary projects, adding to our traditional oil and gas consultancy and assurance services, on a worldwide scale.”
Watson Burton’s corporate group worked with Atkins on the deal. Partner Duncan Reid and associate James Nightingale led a cross-departmental and cross-office team to deliver the deal, which also included managing support from law firms in Australia and Norway.
Reid said: “This acquisition signifies exciting times for Atkins in strengthening its skill set. As a firm, we take great pride in assisting our clients through changes and developments within their business, so we are extremely pleased to have been involved in this transaction.”
Richard Neale, director of energy at Atkins, said: “The team from Watson Burton was a great asset to us in completing the acquisition, acting swiftly to ensure that all deadlines were met, with a positive outcome for all parties involved. We are extremely pleased with the results.”
