Squire Patton Boggs advised Altrad on the deal.
Altrad Australia Pty Ltd, a subsidiary of Altrad Investment Authority S.A.S (Altrad), executed its acquisition of approximately 98% of Valmec Limited (Valmec) by way of a scheme of arrangement.
Valmec, which was ASX-listed prior to completion of the transaction, is a multi-discipline contractor providing in house and niche end-to-end solutions covering design, construction, maintenance and asset integrity services to the oil and gas, energy, water, infrastructure and resources sectors.
Altrad is a global leader in industrial maintenance services, delivering high value-add services to clients in multiple sectors. Privately owned and headquartered in France, Altrad is a major operator in the industrial contractor space throughout the globe.
Altrad paid Valmec shareholders AU$0.413 per share in cash consideration under the transaction, with the total deal value coming to approximately AU$52 million.
The Squire Patton Boggs team was led by Partner Simon Rear (Picture), supported by associates Connor McClymont and Josh Walsh. Altrad was also advised by Darren Martin and Tom Bethlehem at Longreach Capital.
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