Halifax sells Pirtek Europe to PNC Riverarch Capital

PNC Riverarch Capital has acquired Pirtek Europe, an on-site provider of hydraulic hose replacement and associated services across Europe. The sellers was The Halifax Group. Mayer Brown‘s private equity team advised Halifax on the transaction.

PRESS RELEASE

London, 22 November 2018 ¬– Mayer Brown’s Private Equity team has advised The Halifax Group and Management on the sale of Pirtek Europe, the leading on-site provider of hydraulic hose replacement and associated services across Europe, to PNC Riverarch Capital, a US-based private equity firm. Transaction terms were not disclosed.
Founded in 1988, Pirtek Europe has 185 service centres and 750 mobile units across the UK, Ireland, Germany, Austria, Belgium, the Netherlands and Sweden.

The Halifax Group, a leading Washington-based middle-market private equity firm who partner with managers and entrepreneurs to recapitalise and grow mid-market businesses, acquired a majority stake in Pirtek Europe in February 2015.

The Mayer Brown team was led by the co-leader of the global Corporate & Securities practice Perry Yam and Private Equity partner James West and included: Corporate & Securities associates Katrina Murphy and Zayn Khan and trainee solicitor Emily Chen. Tax partner James Hill provided tax support.

Mayer Brown’s leading global Private Equity practice has dedicated lawyers in the Americas, Asia, Europe and the Middle East, who advise on all aspects of private equity transactions.

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