LEADING Scottish law firm, Aberdein Considine, has concluded the first of two planned Platform Supply Vessel (PSV) acquisitions and the relative funding packages on behalf of Aberdeen-based Fletcher Shipping Limited (Fletcher).
The deal, which saw Fletcher acquire the PSV previously named Highland Pride, is the law firm’s fourth acquisition on behalf of Fletcher and saw the firm act as lead legal advisers.
Fletcher, which was established in 2007, owns and operates PSVs in the North Sea and over the past six years has established an excellent track record for providing reliable, cost-effective supply vessel solutions.
The vessel, now known as FS Pisces, brings Fletcher’s current fleet to four with negotiations at an advanced stage for a further PSV acquisition this year.
Jacqueline Law, a corporate partner at Aberdein Considine, said: “We are delighted to work closely with Fletcher Shipping and play our part in assisting with the growth of the company.
“The management team behind Fletcher Shipping are ambitious, professional and customer focused values which are at the core of the corporate services offered by Aberdein Considine.
“The acquisition process is a specialist area of our expertise and it is a service that the firm has become increasingly experienced in, having acted in many similar acquisitions over the course of 13 years.”
Keith Fletcher, managing director of Fletcher, said: “We are delighted to be in the position of adding a fourth and fifth vessel to our expanding fleet.
“Our growth strategy has been built around realising the potential that remains in the North Sea for vessels of our fleets size and quality.
“Aberdein Considine’s corporate team has supported us in our development from the outset and I would like to thank them for their commitment and professionalism in completing the acquisition of FS Pisces.”
The FS Pisces is a 1992 built supply vessel which is already in service working out of Aberdeen Harbour.
Established in 1981, Aberdein Considine is a national Scottish law firm. They are a broadly-based practice, offering corporate and private clients a complete legal, property and financial professional advisory service.
Their current annual turnover in excess of £17 million puts them amongst Scotland’s top 20 law firms. The Corporate Department works closely with a large number and diverse range of support businesses to the oil and gas industry and is based in Aberdeen.
For further information on Aberdein Considine and the firm’s range of services, please visit www.acandco.com or call 01224 589 700.
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Contact: Phil Moar