Zeus is delighted to have acted as Joint Financial Adviser to Thunderball Investments Limited, an acquisition vehicle for joint offerors, AlGihaz Holding Company and Blofeld Investment Management, on their £165m acquisition of Lamprell plc, comprising a £39m offer for the entire issued share capital and a $145m debt financing package.
Lamprell has an established track record as a provider of services to the international energy sector, with over 40 years’ experience delivering high quality projects. It designs, constructs and delivers assets and performs services that help its clients to produce energy safely, efficiently and cost-effectively.
The shareholders of Thunderball Investments have extensive experience in the energy sector and believe Lamprell’s high quality pipeline has the potential to convert into a high margin backlog and believes that the market segments in which Lamprell operates are underpinned by positive long-term fundamentals.
A firm wide effort at Zeus enabled AlGihaz to acquire a significant stake in Lamprell and launch a joint offer within 25 days from Zeus’ first engagement. The international transaction was conducted against a backdrop of financial distress for Lamprell and a mandatory 28 day deadline, necessitating an accelerated timetable which Zeus delivered against.
This deal is the latest in a series of completed public to private transactions for Zeus and has cemented Zeus’ leading position for takeover deals.