Clearwater International UK advises Harris Pye on its sale to KKR-backed Joulon
Clearwater International UK has advised South Wales-based marine and energy engineering group Harris Pye, on its sale to oil and gas asset management services platform Joulon.
Joulon provides asset management for the energy industry through a portfolio of manufacturers and service providers. It is part of investment firm KKR's $6bn (c. €5.1bn) Asia II Fund.
Harris Pye has been acquired to provide a project management platform for the Joulon Group.
The buyer is aiming to grow the company to three times its current size through investment, strategic acquisition and increasing market share in the marine, offshore oil and gas, industrial and power services, and renewable energy sectors.
Chief Executive Mark Prendergast, Chief Technical Officer Chris David and Group Finance Director David Walters will also remain in their current roles.
Prendergast said the deal will provide a "unique and ambitious opportunity as a platform for further growth".