Gresham backs secondary buyout

THE Manchester office of private equity firm Gresham has backed the secondary buy-out of Walker Technical Resources from Maven Capital Partners.

Aberdeen-based Walker specialises in composite repairs to pipework and structural assets for the oil and gas industry.
 
It has been acquired by ICR Integrity, a new vehicle formed to buy companies operating in this field.
 
Gresham’s Manchester partners Iain Wolstenholme and Andy Marsh will join the Walker management board.

Mr Wolstenholme, who led the deal, said: “Gresham has been looking to invest in the integrity, repair and maintenance niche of the energy sector for some time and we are delighted to be backing this talented management team. This investment also reinforces Gresham’s reputation for buy and build.”
 
Debt facilities were provided by HSBC led by Joe Windle.