UK - New US player buys oil services company
Intervale Capital has acquired Aberdeen-based oil services company Hydrafit in a deal worth more than ТЃ20m. RBS supplied an ТЃ18m debt packaged to support the deal in addition to a ТЃ3.5m working capital facility.
Hydrafit installs subsea devices used in the production of oil and gas. Hydrafit will be bolted on to AESI Holdings, a manufacturer and distributor of well-heads and speciality values which Intervale recently acquired.
The deal is the latest in a series of acquisitions by private equity firms in the oil and gas services sector.
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