Member Article

US deal brokered by NE firm

The Tees Valley office of leading northern law firm Dickinson Dees LLP has played a crucial role in the multi-million pound sale of a Gateshead-based company, which has operations across the globe.

Anson Limited of Team Valley has been bought by US company, National Oilwell Varco (NOV) for an undisclosed sum.

Anson manufactures products for use in the exploration of oil and gas, exporting flowline equipment, manifolds, valves, swivel joints, hammer lug unions and wellheads all over the world.

Nigel Williams, lead partner at Dickinson Dees in Tees Valley, said: “The completion of this sale represents one of the largest transactions done in the area so far this year and highlights that despite the economic downturn, we continue to be busy with clients giving us the opportunity to work on exciting, high value deals such as this.

“Working with experts from across our offices, the transaction involved the corporate reorganisation and subsequent sale of Anson Limited which has operations in the UK, US, Singapore, Russia and the Middle East.

“The deal effectively started last summer and involved us working with the company’s financial advisers, PricewaterhouseCoopers (PWC), to market the company to interested buyers. We carried out due diligence and prepared a number of reports on all of the business’ operations, and these were then signed over to the buyer, in order to make the period from selection of preferred bidder to completion much quicker.”

The process involved dealing with law firms in six other jurisdictions around the world, which required the Diciknsonn Dees team to conduct telephone conversations at all times of the day and night to fit in with their office hours.

This was posted in Bdaily's Members' News section by Ruth Mitchell .