A Travers Smith team led by corporate partner Phil Sanderson has, alongside Schjodt AS, advised Silverfleet Capital on the acquisition of AGR Holdings AS ("AGR"), the petroleum services division of Olso-listed AGR Group ASA for NOK 1,640 million (c. €195 million).

AGR is the largest independent well management group operating globally, delivering well, reservoir, HSEQ and facility management services to the upstream oil and gas industry.  AGR's client base comprises some of the largest international and national oil companies as well as a wide range of small and medium sized operators.  Working with more than 650 people, AGR operates in all the regional main oil hubs around the world including UK, Norway, US, Australia, CIS and the United Arab Emirates.

Silverfleet Capital will acquire a majority investment in AGR from AGR Group ASA and members of AGR's management team will also reinvest a significant amount of their proceeds for a minority stake.  Debt will be provided by Nordea and DnB.

AGR Group ASA was advised by Thommessen AS and Nordea and DnB were advised by Wikborg Rein.

The Travers Smith team also included senior banking counsel Barry Newman and corporate associates Naveed Anwar, Leah Carson and Tom Hartwright.