Momentum brought many key skills to the preparation and negotiation of this successful deal. Both the shareholders and acquirers complimented the team on the professional management of the sale process.
Rob Lovelace, CEO of Techman Engineering
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Despite the credit crunch, the West’s top independent corporate finance advisers on management buyouts and company sales have completed the cross-border sale of a leading UK oil-industry engineering business.

Momentum Corporate Finance completed the sale of Techman Engineering Limited, a global provider of precision products for oilfield applications, to Austria’s Schoeller Bleckmann Oilfield Equipment AG, a publicly quoted company listed on the Austrian stock exchange.

Momentum ran an international sale process before completing the deal on 1 October 2008. The process was completed in less than three months.

Rob Crews, partner at Momentum, commented: “With the right advice and preparation, private shareholders can still successfully realise their value at healthy multiples. Techman has rapidly grown its product line of precision-engineered oilfield drill collars and pipeline products, and it is exactly the sort of entrepreneurial business Momentum works well with. This successful transaction again demonstrates our ability to identify foreign purchasers and run an efficient process to completion.”

The transaction takes the total value of deals advised by Momentum so far in 2008 to more than £80 million. It is also Momentum’s fifth mid market transaction in 2008.

Momentum’s newest partner, Alastair Boorman, said: “The ‘credit crunch’ has had a severe impact on the global market for corporate transactions – from MBOs to mergers and acquisitions. We have been able to buck this trend by having a team with a proven track record of delivering results despite a difficult financial environment.”