Hogan Lovells is advising Fluor on its acquisition of Stork for EUR 695 million from Arle Capital Partners. The transaction is expected to close in the first half of 2016.
 
Stork is a global provider of maintenance, modification and asset integrity services associated with large existing industrial facilities in the oil and gas, chemicals, petrochemicals, industrial and power markets. It has operations in Continental Europe, United Kingdom, the Middle East, Asia Pacific and the Americas, with an annualized run-rate revenue of approximately €1.6 billion ($1.7 billion) and EBITDA of approximately €100 million ($109 million), implying a transaction multiple of just under seven times EBITDA.
 
The Hogan Lovells team is led by M&A partner Victor de Vlaam and comprises of a team of partners, counsel and associates across the firm.
 
Victor de Vlaam commented:
"We are proud to have advised Fluor on the acquisition of Stork. Founded in 1827, Stork is one of the oldest industrial groups in the Netherlands with a powerful brand in the industry and a blue chip customer base in the international oil and gas, chemicals, petrochemicals, industrial and power markets."