Carey Olsen has advised long-standing client, Blue Water Energy (BWE), on its acquisition of a controlling stake in Px Group, a company that specialises in the energy, engineering and process industries.
Px Group has been growing steadily for a number of years and the deal provides it with access to capital for continued investment. The company provides operations and maintenance, engineering and energy, trading and management services to owners of large-scale energy process and infrastructure assets in the European market.
BWE is a private equity firm investing exclusively in the energy sector with a targeted focus on the middle market energy space. Blue Water Energy Fund 1, LP currently has capital commitments of US$861 million. BWE’s strategy is to partner with management teams and to work alongside them to develop their businesses.
Carey Olsen partner Andrew Boyce and senior associate Ruth Abernethy advised on all Guernsey aspects of the transaction.