International law firm Pinsent Masons has advised HSBC Private Equity (UK) on the management buyout of Viking Moorings, one of the largest private equity deals in Europe this year.
International law firm Pinsent Masons has advised HSBC Private Equity (UK) on the management buyout of Viking Moorings, one of the largest private equity deals in Europe this year.
Viking specialises in the design, rental and sale of mooring systems for drilling rigs and single hull vessels, operating from offices in Scotland, Norway, Australia and Singapore.
Viking has been acquired from Inflexion Private Equity and management who will both be making significant re-investment into the deal.
Mahmoud Atalla of HSBC Private Equity and Tom Ehret, currently vice chairman of Acergy Offshore, join the Viking board as non-executive director and non-executive chairman respectively, alongside representatives of Inflexion Private Equity and the senior Viking management team.
The debt package was provided by a four bank club comprising RBS, Lloyds, HSBC and Clydesdale.
Private equity partner Gregg Davison led a team of over 40 lawyers to advise on the deal including Peter Wood, Giles Warrington and Phil Scott.
Davison says: "We are delighted to have advised HSBC Private Equity on this deal which will see Viking further enhance its market leading position in the North Sea and further abroad, particularly in the Asia-Pacific region. We wish them success in the future. In difficult market conditions, it is real credit to the quality and strength of all the parties and advisors involved in this transaction, to deliver the deal for our respective clients."
