BDO advises on £10m energy sector deal

ADVISORS at the Birmingham office of BDO have successfully worked on a £10m engineering deal.

BDO’s Transaction Services team provided financial due diligence to Luton-based Hayward Tyler Group on its acquisition of the trade and assets of the Peter Brotherhood business from Dresser-Rand Company Ltd, a Siemens-owned business.

Founded in 1867, Peterborough-based Peter Brotherhood is focused on providing energy efficient solutions for land and marine based applications including turbines, reciprocating gas compressors and combined heat and power units for the power generation, oil and gas and marine markets.

Peter Brotherhood clients include firms such as SBM, Saipem, Rolls Royce and Keppel.

Established in 1815, Hayward Tyler designs, manufactures and services performance-critical electric motors and pumps to meet the most demanding of applications for the global energy industry. It operates as both an OEM supplier and partner.

BDO said the deal further strengthened its engineering credentials, in particular the Transaction Services team’s extensive track record of advising AIM-listed clients on investments in the UK and overseas.

Nicholas Flanagan, Chief Financial Officer, Hayward Tyler Group, said: “We have worked with BDO Transaction Services on a number of engagements in recent years. The team provide the complete package; clear, relevant and concise reports together with commercial and pragmatic guidance, which allows management to focus on the transaction in hand.”