Clearwater International UK advises Harris Pye on its sale to KKR-backed Joulon

Clearwater International UK has advised South Wales-based marine and energy engineering group Harris Pye, on its sale to oil and gas asset management services platform Joulon.

Joulon provides asset management for the energy industry through a portfolio of manufacturers and service providers. It is part of investment firm KKR’s $6bn (c.€5.1bn) Asia II Fund.

Harris Pye has been acquired to provide a project management platform for the Joulon Group.

The buyer is aiming to grow the company to three times its current size through investment, strategic acquisition and increasing market share in the marine, offshore oil and gas, industrial and power services, and renewable energy sectors.

Chief Executive Mark Prendergast, Chief Technical Officer Chris David and Group Finance Director David Walters will also remain in their current roles.

Prendergast said the deal will provide a “unique and ambitious opportunity as a platform for further growth”.

The Clearwater International team comprised of Partners Jon Hustler, Rob Britton, Constantine Biller and Associate Director Mark Gillingham.

“We are pleased to have advised Harris Pye on finding a strategic partner to help it continue its success, in line with the general recovery of the oil and gas market. Harris Pye has an excellent management team and provides world class engineering services which will significantly enhance the suite of products and services offered by the portfolio businesses of Joulon. This demonstrates Clearwater International’s global network and sector expertise.”

Jon Hustler, Partner, Clearwater International