McGuireWoods lawyers in London and the United States advised UK provider of essential components and solutions Essentra PLC (LSE: ESNT) in selling its Pipe Protection Technologies business to National Oilwell Varco, Inc. (NYSE: NOV), a Texas-based oil and gas equipment provider. The US$48 million (£38 million) cross-border transaction involving assets in the UK, Canada, Mexico and the United States closed Jan. 14.
McGuireWoods assisted Essentra, a longtime client of the firm, in all aspects of the transaction. The sale was led by partner Jeffrey Rothschild, and the deal team included partners Mebs Dossa, James Gelman and J. Brent Justus and associates Daniel Bidwell, Steve Carrington and Adir Paner. Partner David Franchina represented Essentra on environmental regulatory aspects of the deal. Partners Taylor French and Bob McElroy, senior counsel Paul Navarro and associate Alexia Faraguna advised on tax, benefits and other employment matters. Partner Janet Peyton provided counsel on intellectual property issues, and partner Josiah Bancroft handled real estate matters.
“We are proud to represent Essentra in this important sale that further strengthens the company while transitioning Pipe Protection Technologies to a platform under which it may continue to grow,” Rothschild said.
“Essentra is a global leader in delivering essential product components across industries and we are grateful for the trust they place in us,” said deputy managing partner Joanne Katsantonis, who has worked with the client for many years.
McGuireWoods consistently ranks among the top 10 law firms in highly respected league tables for M&A deals, including placing No. 3 for U.S. M&A transactions in Thomson Reuters’ year-end league tables, and No. 6 for global M&A deals in Bloomberg’s year-end league tables. Mergers & Acquisitions magazine honored McGuireWoods as Law Firm of the Year in the publication’s Mid-Market M&A Awards.