HOUSTON--(BUSINESS WIRE)--Aug 20, 2019--
Calash, a strategy and M&A advisory firm focused on the energy and industrials sectors, is pleased to announce that it recently advised Arconic Inc., a global leader in lightweight metals engineering and manufacturing based in Pittsburgh, Pennsylvania, on the sale of its RTI Energy Systems (RTIES) subsidiary to Hunting PLC. RTIES is a leading manufacturer of production riser technologies for deep water applications within the offshore oil and gas industry. RTIES’s product portfolio incorporates proprietary technology and know-how which is protected by a number of patents. RTIES is unique within the industry as the only supplier of titanium stress joints, providing a more reliable, compact and lower total cost alternative to flexible joints and steel tapered stress joints.
Calash served as the advisor to Arconic, working closely with the RTIES management team and Arconic’s corporate development team to prepare the business for sale and provide ongoing support throughout the sale process. Calash provided a strategic review of the business, assisting with preparing the business and management team for due diligence, developing materials and identifying a diverse and broad buyer list. The Calash team was led by Sean Shafer, Senior Vice President of Calash LLC, and Cameron Lynch, President of Calash LLC.
Commenting on the transaction, Joe Scott, Director of Corporate Development at Arconic, said, “Sean and Cameron were an instrumental part of getting traction in the sale of RTIES. Sean is a true O&G industry expert with a deep and nuanced understanding of market trends, the supply chain, and competitive dynamics. He was able to help us position our business in a way that maximized its attractiveness to potential buyers. Cameron, for his part, has an extensive network in the space that was critical in helping us connect with the right buyers. Without his list of contacts, we may never have been able to find our eventual buyer. Sean and Cameron were professional, responsive, and dedicated throughout the process, and they were both a pleasure to work with. I would highly recommend Calash as an M&A partner.”
Commenting on the acquisition, Jim Johnson, Hunting’s Chief Executive, said, “Given the new offshore deep water projects being commissioned within the US, Brazil and Guyana, RTIES, which will sit alongside and complement our Subsea operations, will provide Hunting with an enlarged product offering into the recovering deep water offshore market. The transaction also delivers on our stated strategic goal of targeting investments in differentiated technologies to enhance our value proposition for the offshore oil and gas industry.”
View source version on businesswire.com:https://www.businesswire.com/news/home/20190820005632/en/
CONTACT: Cameron Lynch
+1 212.392.4809Sean Shafer
KEYWORD: UNITED STATES NORTH AMERICA TEXAS PENNSYLVANIA
INDUSTRY KEYWORD: CONSULTING MANUFACTURING PROFESSIONAL SERVICES OTHER MANUFACTURING OIL/GAS STEEL ENERGY ENGINEERING
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PUB: 08/20/2019 12:38 PM/DISC: 08/20/2019 12:38 PM