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Ashfords LLP has advised Pipex PX, a Plymouth based engineering and manufacturing business, on the sale of the company to a UK subsidiary of global company National Oilwell Varco, Inc, a company listed on the New York Stock Exchange, who provides equipment and components used in oil and gas drilling. The deal closed in November.
This acquisition is prominent within the engineering and manufacturing sector, reflecting the growth and commitment to the industry, and highlights the expertise of South West businesses.
Ashfords LLP's Corporate Partner, Louise Workman, led the team advising on the sale. Louise commented:
"The sale of Pipex PX to National Oilwell Varco will strengthen and help to build the engineering and manufacturing sector in the South West. We were delighted to have advised Pipex PX on the sale, ensuring our client was left with the best possible outcome for the business and staff at the company."
Tom Smith, of Pipex PX commented: "We would like to thank Louise and the team at Ashfords LLP for their help and support throughout the sale. We felt in safe hands throughout the transaction and reassured every step of the way. This is a very exciting time for us and we look forward to seeing what the future brings."