Hydrasun, a Scottish oil and gas firm owned by Barclays Private Equity since 2007, has acquired the hydraulics business of ATR, an Aberdeen-based oil and gas tool rental company.
“The hydraulics business has not been an ideal fit with our strategy for some time and we are delighted to have entered into a deal with Hydrasun, which safeguards the long-term future of the workforce,” said Robert Skidmore, director of the ATR.
BPE acquired Hydrasun in a £75.5m deal in late 2007. Aberdeen-based Hydrasun provides oil and gas companies with fluid connectors, hoses, fittings, instrumentation, process control products and other services. The company also has operations in Holland and Azerbijan.
Source: Thomson Merger News