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Stockton law firm advises on £6m acquisition deal

Stockton-based Jacksons Law firm has advised GS-Hydro UK Ltd on the recent £6m acquisition of Aberdeen-based First Hose Ltd.

The deal, which will strengthen GS-Hydro’s position as a supplier of hose systems, saw Tony Wentworth, partner and head of corporate at Jacksons working closely with Chris Hargreaves, Managing Director of GS-Hydro UK.

GS-Hydro, owned by Swedish listed private equity conglomerate, Ratos, is a global supplier of non-welded piping solutions for use primarily in hydraulic applications with high demands on fast installation, cleanliness and minimal operations shutdowns.

The products are used in the marine and offshore industries as well as in land-based segments such as pulp, paper and metal industries.

First Hose Ltd, was established in 1989 provides its customers with off-shore rig supply hoses, hydraulic hoses, industrial hoses, instrumentation and fittings for the oil and gas after market in the UK North Sea.

Chris Hargreaves, MD of GS-Hydro UK, which has its head office in Sunderland, said: “This acquisition is an important step in delivering GS-Hydro strategy. We are delighted to have acquired First Hose which will significantly strengthen GS-Hydro’s position in the off-shore after sales market in the UK.

“Jacksons have supported GS-Hydro in its commercial dealings for a number of years and it was reassuring having Tony on the team and being able to rely on his expertise and acumen.”

Jacksons Law firm is one of the North East’s longest established law firms and has been practising in the Tees Valley for almost 140 years.

Tony Wentworth, Jacksons Law Firm said, “I’m confident the acquisition will see GS-Hydro go from strength to strength and that they have a very successful future ahead of them.

“It’s great to see that there are still positive developments in the oil and gas sector following the oil price crash last year and that there are opportunities to be had”.

The commercial law firm has a Newcastle office as well as its Stockton HQ.

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