Jacksons Law Firm assist Global firm GS Hydro in acquisition

December 13th 2015

COMMERCIAL Law Firm Jacksons, recently advised GS-Hydro UK Ltd on the acquisition of Aberdeen based, First Hose Ltd. The deal, which will strengthen GS-Hydros position as a supplier of hose systems, saw Tony Wentworth, partner and head of corporate at Jacksons working closely with Chris Hargreaves, Managing Director of GS-Hydro UK on the £6m deal.

GS-Hydro, owned by Swedish listed private equity conglomerate, Ratos, is a leading global supplier of non-welded piping solutions for use primarily in hydraulic applications with high demands on fast installation, cleanliness and minimal operations shutdowns. The products are used in the marine and offshore industries as well as in land-based segments such as pulp, paper and metal industries.

First Hose Ltd, was established in 1989 provides its customers with off-shore rig supply hoses, hydraulic hoses, industrial hoses, instrumentation and fittings for the oil and gas after market in the UK North Sea.

Chris Hargreaves, MD of GS-Hydro UK, which has its head office in Sunderland, said: "This acquisition is an important step in delivering GS-Hydro strategy.

"We are delighted to have acquired First Hose which will significantly strengthen GS-Hydros position in the off-shore after sales market in the UK. Jacksons have supported GS-Hydro in its commercial dealings for a number of years and it was reassuring having Tony on the team and being able to rely on his expertise and acumen."

Tony Wentworth, Jacksons Law Firm, said: "I'm confident the acquisition will see GS-Hydro go from strength to strength and that they have a very successful future ahead of them. Its great to see that there are still positive developments in the oil and gas sector following the oil price crash last year and that there are opportunities to be had."

Jacksons Law firm is one of the North Easts longest established law firms and has been practising in the Tees Valley for almost 140 years. Operating from its head office in Stockton on Tees, and an office in Newcastle upon Tyne, it is well placed to assist clients across the region on a wide range of business and personal legal advice.