Doughty goes all-equity for Asco buy-out

Private equity firm Doughty Hanson has acquired oil and gas services firm Asco Group from Phoenix Equity Partners using 100% equity, although bankers said they expected the buyer to refinance its purchase shortly with a club loan.

  • 28 Nov 2011
Another bidder had lined up a club of banks to finance its acquisition of the firm, which has Ebitda of around £30m. Bankers said that there was only one institution from mainland Europe in the club of five or six, as the loan would have been in sterling ...

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