Jamieson is delighted to announce that it has advised the management team of Weir Flow Control (“WFC”) on the sale of the business to First Reserve. The transaction, a carve-out from Weir Group PLC, is expected to close in the second quarter of 2019, subject to certain antitrust approvals and other customary closing conditions.
WFC is a designer, manufacturer and aftermarket services provider of engineered valves and pumps used in energy and broader industrial applications. WFC consists of global brands in niche applications supporting safe, reliable and efficient energy and industrial processes worldwide. These brands include the manufacturing of pressure relief, control and engineered isolation valves and centrifugal pumps for applications in the downstream, midstream, utility and industrial sectors as well as related aftermarket parts and services. The company has a significant installed base spanning a diverse global footprint which continues to be driven by the replacement of ageing facilities throughout the energy and industrial sectors.
Burton and David Kirkpatrick of Jamieson advised David Paradis and the WFC
management team on the commercial terms of their investment alongside First
Reserve. In addition, the Jamieson team advised on the terms of a new equity
based management incentive programme to be implemented in the new structure.
David Paradis, CEO of WFC, said of Jamieson’s role, "It’s been great working with Tom and David of Jamieson. They are specialized experts in this field. Their experience and advice have been valuable to the management team as we worked through the process.”