LONDON - Reed Smith has advised PNC Riverarch Capital, a US-based private equity firm, on the purchase of Pirtek Europe from The Halifax Group and other minority sellers.
Pirtek Europe, a UK-based on-site provider of hydraulic hose replacement and associated services, was founded in 1988. It comprises 185 service centres and 750 mobile units across the UK, Ireland, Germany, Austria, Belgium, the Netherlands and Sweden.
The Halifax Group, a Washington-based private equity firm, acquired a majority stake in Pirtek Europe in February 2015.
The Reed Smith team for the transaction was led by London Corporate partner Sakil Suleman. It included Caspar Fox (Tax), associates Kathryn Bond, Victoria Bryden (Corporate) and Emma McGrory (Tax), and partners Leon Stephenson and Kevin-Paul Deveau from the firm’s Financial Industry Group.