Harris Williams & Co. advises Seaboard in its sale to strategic buyer The Weir Group PLC

Source: Harris Williams & Co.

Harris Williams & Co., a premier middle market investment bank, is pleased to announce the sale of Seaboard Holdings Inc. (Seaboard), a portfolio company of Industrial Growth Partners (IGP), to The Weir Group PLC (Weir) for $675 million. The transaction closed on December 14, 2011. Harris Williams & Co. acted as an advisor to Seaboard. The transaction was led by Drew Spitzer, Luke Semple and Chip Duggins from the firm’s Energy & Power (E&P) Group.

“We are very proud to have represented Seaboard and IGP in this transaction,” said Drew Spitzer, a managing director and co-head of Harris Williams & Co.’s E&P Group. “Seaboard’s expertise and established market position extend Weir’s leadership in the upstream surface equipment market and will enable Weir to further capitalize on the growing shift towards unconventional oil and gas development and the rapid growth of high pressure hydraulic fracturing both in North America and abroad."

Based in Houston, TX, Seaboard manufactures engineered wellhead and pressure control equipment to the oil and natural gas exploration and production industries. Seaboard also provides a range of associated field and support services, including equipment rental into the onshore oil and gas drilling, completion and production markets.

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