Kellogg Brown & Root Limited’s £293 Million Acquisition Of Frazer-Nash Consultancy Limited From Babcock

In UK Ashurst, advised on the matter.

Ashurst advised Babcock with a team including Neil Cuninghame (Competition Law), Karen Davies (Corporate M&A), Stuart Dullard (Corporate M&A), Tim Gummer (Tax M&A and Deal Advisory).

Babcock International Group sold Frazer-Nash Consultancy Limited to Kellogg Brown & Root Limited for a cash consideration of £293 million (implying an enterprise value of £285 million on a cash free/debt free basis).

The sale forms part of Babcock’s targeted disposal programme, which aims to generate at least £400 million of proceeds in the next twelve months. 

Completion of the sale is subject to approval by the Australian foreign investment authority.

Headquartered in the UK, Frazer-Nash Consultancy delivers innovative engineering and technology solutions across a broad range of critical national infrastructure, helping to provide assurance to operators and regulators from a network of nine UK and four Australian locations.

The Ashurst team was led by Aaron Shute (Picture) and Karen Davies, assisted by corporate associates James Powell, Demi Pham, Anxin Hua and Yoana Georgieva. Partner Stuart Dullard and senior associate Harry Marples advised in relation to Australian corporate matters. Partners Neil Cuninghame in London and Melissa Fraser in Sydney and senior associate Danica Barley advised in relation to competition law matters. Partner Tim Gummer and associate Shayaan Zaraq Bari provided tax advice. Partner Chris Bates and associate Matthew Hewitson advised in relation to commercial law matters. Counsel John Gordon and senior consultant Nicholas Stretch and senior associate Rebecca Servian advised in relation to pension and incentive matters. 

Involved fees earner: Shayaan Zaraq Bari – Ashurst; Danica Barley – Ashurst; Christopher Bates – Ashurst; Neil Cuninghame – Ashurst; Karen Davies – Ashurst; Stuart Dullard – Ashurst; Melissa Fraser – Ashurst; John Gordon – Ashurst; Tim Gummer – Ashurst; Harry Marples – Ashurst; James Powell – Ashurst; Rebecca Servian – Ashurst; Aaron Shute – Ashurst; Nicholas Stretch – Ashurst;

Law Firms: Ashurst;

Clients: Babcock;

Author: Giulia Di Palma