Global law firm Clifford Chance is advising Superior Energy Services Inc. (Superior) on its definitive agreement to acquire Welltec International ApS (Welltec), a global provider of robotic well intervention technologies headquartered in Denmark.
Welltec is a global provider of proprietary robotic, wireline-conveyed well intervention solutions and metal expandable packer (MEP) technologies for wellbore intervention and completions. It operates globally in more than 50 countries across major oil and gas producing regions and serves a broad base of international and national energy company customers.
Superior serves the drilling, completion, and production-related needs of oil and gas companies through a diversified portfolio of specialized oilfield services and rental equipment used throughout the lifecycle of oil and gas wells. In addition to operations in North America, both on land and offshore, Superior operates in over 55 countries internationally.
Houston partner Jonathan Bobinger commented, “We are delighted, together with counsel across the globe and with Evercore, as financial advisor, to be supporting the exceptional Superior team on its agreement to acquire Welltec, an important step in Superior’s ongoing strategy. Congratulations to the Superior and Welltec teams and all involved.”
Bobinger led the global, multi-practice team, with support from partners Steven Fox (London) and David Sweeney (Houston), counsel Joshua Bernard (Houston), associates Austin Johnson, Shayan Junaid, Shaq Taylor, Ella Chen and Francisco da Silva and law clerk Mary Angela Ricotta. The transaction involved lawyers across global practice groups, including Corporate Transactions & Advisory, Private Equity, Capital Markets, Antitrust and Trade, Debt Finance, Structured Finance, Real Estate and Tax, Pensions, Employment and Incentives, in collaboration with local counsel throughout relevant jurisdictions.
Closing of the transaction remains subject to customary closing conditions, including receipt of applicable regulatory approvals.
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