ABERDEEN-BASED specialist corporate-finance adviser Simmons and Company International revealed yesterday it had closed 20 deals with a total transaction value of £649million in the year to June.
The number of transactions was up by more than 50% on the previous financial year, while the value was up by about £13million.
Chief executive Colin Welsh said: “It’s by no means a record year, but bearing in mind the state of the oil price, economy and banking sector this time last year we are very satisfied with the outcome which underlines the performance of our team and the resilience of the energy sector.
“Our completed transactions list includes a good balance of acquisitions, sales and finance-raisings across the oil service sector, from drilling and completions to pipeline, process and general oilfield services.
“The subsea space features predominantly, with successful transactions for Nautronix, Subocean Group and Acteon.”
Simmons said other transactions included the acquisition of Norson Power by EnerMech, the sales of Serimax to Vallourec and Cyclotech to M-I Swaco and fundraising for International Tubular Services and Red Spider.
About one-third of the deals were centred on the local Aberdeen market, which also acts as a hub from which Simmons gets access to the international market, while more than half of the deals were cross-border involving parties from Europe, North America, the Middle East and Australia.
Simmons is predicting a significant improvement in deal flow as confidence in the long-term prospects for the energy industry grows and has entered the new financial year with a strong backlog of projects.
The firm has a workforce of 55 in Aberdeen.
Simmons is part of the Simmons and Company International group of companies with headquarters in Houston, Texas.