PETROFAC ACQUIRES KW LIMITED

Petrofac, the international oil & gas service provider, has acquired the entire share capital of KW Limited (KW).

Based in Fetcham, near Woking, with an office in Aberdeen, KW is a high-end subsea pipeline consulting and engineering services business with an established reputation in the subsea pipeline market. As at 31 March 2011, KW had gross assets of 2.7 million.

The business and its 56 employees will become part of Petrofac’s Engineering & Consulting Services business.

Kevin Williams, technical director of KW Limited, commented: “KW has built a strong reputation as a provider of high value subsea pipeline consulting and engineering and our strong technical and engineering capability provides a solid foundation for future growth. We are excited by the opportunities that being part of Petrofac brings and look forward to playing our part in the development of the business.”

Rhone Energy Advisors was retained by Engineering Investments Ltd and management following a competitive selection process. Rhone Energy Advisors was selected thanks to its significant Energy M&A expertise, its senior resource dedication and its strong relationships with potential buyers.  

The team was led by Andreas Zapf, Managing Director and owner of Rhone Energy Advisors. He commented: “Offers were received from international trade buyers and from private equity investors. Engineering Investments successfully negotiated the final deal with Petrofac, who put forward the winning offer and were awarded a period of exclusivity.”