Nabarro advises on Braemar Shipping acquisition
12 May 2011
Nabarro has advised FTSE client Braemar Shipping Services plc on the £2.4 million acquisition of the business and assets, in administration, of marine survey company BMT Marine and Offshore Surveys Limited (BMTMOS).
The acquisition from administrators Deloitte was completed just 13 hours after the Nabarro corporate team, including partners Peter Williamson and Glen Flannery, received an instruction to handle the purchase.
BMTMOS has 94 employees, most of whom are marine surveyors operating from 21 offices around the world. Going forward the business will join with the established marine survey operations of the Braemar technical division and will trade under the Braemar name.
Braemar Shipping CEO, Alan Marsh, said:
"This is a very exciting development for the technical division of Braemar Shipping Services Group, enabling us to deliver a truly global service to our clients".
Nabarro corporate partner Peter Williamson, who led the team, said:
"The Nabarro team has once again demonstrated how responsive we are to the needs of our clients. Turning this deal around in just 13 hours was a major achievement. It also showcases our expertise in handling the legal aspects of distressed transactions."
For further information, please contact:
