Lonsdale acquires Oteac

The Royal Bank of Scotland provided a debt package for the transaction.

Lonsdale invested in Oteac because of its strong management and the firm's good growth prospects, the GP stated. The buyout of the Scottish firm is Lonsdale's third investment in the last 12 months.

In 2010, former Threadneedle executive David Gasparro, ex-JP Morgan Private Equity director Ross Finegan and Lansdowne Capital founder Alan Dargan teamed up to launch Lonsdale, a UK-based private equity firm with a focus on companies in the UK and northern Europe valued at £10-50m.

Company
Oteac offers onshore and offshore fire and safety services for the oil and gas sector. Founded in 1984, the firm is based in Aberdeen. It currently employs 53 staff.

People
Sandy Brown acquired Oteac in 2007, before Bill Hogarty bought a share in the firm in 2009. Brown will remain managing director and keep a minority stake in Oteac while Hogarty will remain CEO and hold a significant stake together with the company's senior management. David Gasparro is a partner at Lonsdale.

Advisers
Equity – Anderson Anderson & Brown (Corporate finance); Dundas & Wilson (Legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Buyouts
• Support services
• United Kingdom