Australia's ALS Puts Up $533M For Gas Industry Servicer

Law360, New York (July 16, 2013, 1:19 PM EDT) -- Australian industrial group ALS Ltd. agreed to pay $533 million for U.K.-based, private equity-backed oil and gas industry servicer Reservoir Group, a move it said Tuesday will bolster its upstream business and tether it to lucrative, high-growth oil and gas end-markets.

The deal lifts ownership from energy-focused investment firm SCF Partners, based in Texas, and Reservoir's management. ALS, formerly Campbell Brothers Ltd., did not spell out its financing plans, but said Reservoir's senior executives will roll over about half of their equity into ALS shares. The...
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