Muckle is delighted to have advised Netherlands-based Well Services Group (WSG) on its acquisition of Australian multi-disciplined solution service provider Eftech International Pty Ltd (Eftech) for an undisclosed sum.
Eftech is a leading provider of Process and Pipeline Services to the domestic and international oil and gas industry.
The Australian market has long been a target for WSG Process, Pipeline & Industrial Services division to enter, as the core LNG and Oil and Gas experience they have in North America, Europe and Asia is very complementary to the services and clients being supported in Australia by Eftech.
Eftech has operational centres in Perth, Darwin, Sydney, Adelaide which is a fantastic footprint for continued expansion. The acquisition will extend WSG’s trading business to cover Europe, Middle East, North America, Asia and Australia.
Managing Director of Eftech, Andrew Manning said “The combination of WSG’s global reach and market-leading dominance in key sectors such as LNG makes this a very strong and competitive integrated business”.
WSG CEO Process, Pipeline & Industrial Services Andrew Burrell said: “The growth potential for us in Australia is very strong and made Eftech the perfect partner for the next stage of our expansion. WSG will be able to deliver market-leading technologies through the Eftech infrastructure, representing a value to customers in the midstream, downstream and infrastructure markets.
“The growth plans for WSG remain underpinned by profitable growth, introducing new technology, and a demonstrable carbon reduction plan for our clients. This deal will allow us to deliver on all of these key tenets that our shareholders value.”
Commercially sound advice
WSG was advised in the deal by lawyers from our corporate team, led by associate Sara Worsick with support from senior partner Hugh Welch and trainee solicitor Georgia Sproat. The team worked closely with WSG’s international advisors Addisons (Australia) and MAAK Advocaten NV (Netherlands)
Andrew Burrell said: “We found the team at Muckle LLP to be forward-thinking, commercially minded and dedicated to getting deal across the line. We wouldn’t hesitate to recommend them. They truly understand our business and the advice they provided is excellent.”
Sara Worsick said: “Having worked with WSG for a number of years, it was fantastic to be able to advise the team with another significant transaction and support their continued growth. Entering into the Australian market is a fantastic new opportunity for WSG and we’re pleased to have been involved in helping them achieve this milestone.”