Shepherd and Wedderburn LLP, along with English counsel Ashurst LLP, has advised a consortium of investors who, via investment vehicle Zander Topco Limited, have acquired ASCO Group Ltd (ASCO), the largest global provider of outsourced logistics services and solutions to the oil and gas industry. The transaction marks the exit by DH Private Equity Partners of its last portfolio company and includes a refinancing of ASCO's existing banking facilities. Peter France, CEO, and the existing management team will continue to lead ASCO. Bob Keiller, former CEO of John Wood Group plc, has accepted the role of ASCO's Chairman.
Aberdeen-headquartered ASCO is a leading global provider of multi-site integrated supply base operations to the oil and gas industry (both onshore and offshore). It employs around 1,500 employees and operates in more than 70 strategically positioned locations, serving offshore energy operators and major service companies in eight countries across five continents.
Hamish Patrick, Partner in Shepherd and Wedderburn's finance team, commented: "We are delighted to have assisted the Investor Consortium in Scotland on this sale and refinancing, providing ASCO with a solid platform to focus on its future plans."
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