Elysian Capital buys Axis Well Technology

Elysian invested via its maiden fund, which closed on £129.67m in 2010 – Elysian partners committed more than £25m to the vehicle, which usually invests in transactions worth between £10–100m.

Axis's management team, led by Jim Anderson, also took a stake in the business. Axis will now focus on expanding overseas and widening its service offering.

Senior debt and working capital facilities were provided by Lloyds.

Company
Founded in 2001, Axis Well Technology provides integrated consultancy services to the oil and gas industry. The firm notably covers intervention, completions, petroleum engineering, oil and gas production optimisation, and project management.

Aberdeen-based Axis Well Technology employs around 150 staff and generates revenues of £21.1m.

People
Ken Terry led the deal for Elysian Capital.

Advisers
Equity – Johnston Carmichael (Corporate finance, financial due diligence, tax); Calash (Commercial due diligence); Eversheds (Legal); Aon Group (Insurance due diligence).
Vendor – Simmons and Company (Corporate finance); Burness, Paul and Williamson (Legal).

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