The UAE offices of international law firm Clyde & Co advise Safar Onshore & Offshore Gas and Oil Field Services Establishment (Safar) on the disposal of 100% of its business to Theodor Wille Intertrade (TWI).
Safar, provides specialised products and services for the oil & gas and mining industries. It is headquartered in the UAE and has more than 30 years history in the Middle East and Central Asia regions.
TWI is an American-owned firm headquartered in Zug, Switzerland, with offices throughout Europe, the Middle East, Africa, and Central Asia. It creates integrated supply chain solutions around the world for defense, government and energy sector customers.
The strategic acquisition of Safar’s operations in the Middle East (including its Kazakhstan, and Iraq branches) strengthens TWI’s foothold in the region, enables access to Safar’s extensive GCC customer base and allows expansion of TWI’s service offering in many of the environments where they have been operating for a number of years.
The Clyde & Co team that advised on the sale of Safar was led by corporate partner Phil O’Riordan together with lead corporate associate Stephen McKenna.
Patrick Malcor, TWI’s CEO commented: “Safar is a well-run company with strong customer relationships and excellent distribution channels in some of the same geographies where TWI operates. The addition of Safar’s capabilities is a key element in our growth strategy to expand into new markets and reach new customers with a broader range of products and services.”
Phil O’Riordan, partner at Clyde & Co said “This was a really interesting transaction to work on where we had to draw upon both our international expertise and local know-how to consider a range of cross border and local structuring issues. Creative thinking and co-operation was required from all sides to get the deal done – we wish Safar and TWI all the very best for the future.”
