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Press Release

Field Fisher Waterhouse advises new client Wrist Ship Supply on key acquisition

23/05/2011

Locations

United Kingdom

Fieldfisher advises new client Wrist Ship Supply on key acquisition

Field Fisher Waterhouse LLP has advised new client Wrist Ship Supply on its acquisition of UK independent food distributor Strachans Ltd. The acquisition is the latest in a string of world wide acquisitions for the global ship supply company as it expands into supplying the global offshore oil and gas industry.

Corporate partner Tim Bee led the team, assisted on the corporate side by Sabina Coles, Caroline Nicholls and Melanie Bates. Tax partner Andrew Prowse advised on corporate tax issues, Gavin Vollans advised on real estate matters and Angus Ackroyd provided employment advice.

Tim Bee said: "Wrist is a major player in the global ship supply industry and its acquisition of Strachans was integral to its expansion strategy. This was a complicated transaction and we put together a team of experts to advise on all aspects of the deal, from corporate tax to negotiating new leases on existing office properties. The result was a seamless transaction that brings together two companies to provide world class services and supplies to the offshore oil and gas industry. We are really pleased to have been able to help Wrist implement this part of its acquisition strategy." 

Morten Lund, Chief Financial Officer at Wrist, said: "We have been very pleased with Fieldfisher during the acquisition process. They understood this was a key acquisition for us and their professional team worked closely with us and the sellers to facilitate a successful deal."

With branches across the world, Wrist Ship Supply provides ships with a one-stop shop for supplies and services, including consumables, deck and engine supplies. Over the past two years it has expanded across Europe and North America. Its acquisition of Scottish-based Strachans will expand its operations in the UK, providing offshore catering to ships and oil rigs in the North Sea.

Fieldfisher's 31-partner Corporate group advises both domestic and overseas clients on corporate finance transactions ranging from setting up and investing in new ventures to major cross border acquisitions, joint ventures and listings. Earlier this year it advised independent oil and gas exploration business Trap Oil Group plc on the biggest AIM flotation of the year so far.

For further press information, please contact:
Louise Eckersley, PR Manager, Field Fisher Waterhouse LLP on +44 (0)20 7861 4120

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