Orbis Advise Italian Group On Oil & Gas Acquisition

Orbis Partners have advised the Italian Headquartered Oil & Gas services business, Raccortubi, on its acquisition of Aberdeen-based Norsk Alloys. The Raccortubi Group, with annual sales of €80m, has worldwide manufacturing and distribution activities for piping materials and specialist steels to support the Oil & Gas and Petrochemical industries. It is controlled by the Pentericci family with investment from Italian Private Equity Fund Synergo SGR.

The acquisition of Norsk Alloys will strengthen the Groups distribution network servicing Oil & Gas platforms in the North Sea and strengthen its recently established presence in the London area to provide a dedicated service to UK engineering companies, plant manufacturers and major end users.

The deal was led in the UK by Orbis’s Partner Chris Gregory and Associate Director Peter Bull. Orbis worked on this transaction alongside Milan-based K Finance, their fellow Partners in Clairfield International, the Global Corporate Finance Advisory Group.

“Despite the current difficulties in the Oil & Gas sector, there are good opportunities for continued expansion by strategic acquisition in the right areas. The completion of this deal further demonstrates our strength in closing cross-border transactions working alongside our Partners in Clairfield International.”
Chris Gregory, Partner