INDUSTRIAL services group Intertek has won a £3 million contract with Maersk Oil UK to carry out scientific work from its new laboratory in Aberdeen.
Intertek has provided services to the oil and gas sector for more than 40 years from Aberdeen and recently invested around £4.5m in state-of-the art laboratories in its energy services hub.
The three-year contract for Maersk has the option for two one-year extensions and will see Intertek provide offshore chemists full-time for three of the operator’s assets, as well as a supporting team in the laboratory.
H&F enters battle for Auto Trader
US PRIVATE equity firm Hellman & Friedman (H&F) has reportedly entered the fray for a stake in used car publication Auto Trader.
The publisher is jointly owned by another private equity group, Apax, and Guardian Media Group. Apax is trying to buy out its partner, which needs the money to support its newspapers, but the pair are in a deadlock over price.
H&F is thought to have offered to work with Apax and buy Guardian’s stake, although it is not clear how much more than the £1.5 billion already tabled it will offer.
Ex–Baugur chief plans UK return
The former boss of collapsed Icelandic retail conglomerate Baugur looks set to return to the UK scene with his first investment since the financial crisis.
Jon Asgeir Johannesson, who was once connected to high street names such as House of Fraser and Iceland Foods, is reported to have taken a minority stake in burger business Muddy Boots.
Baugur’s 2009 collapse contributed to failure of Iceland’s three largest banks, and Johannesson faces trial for fraud in his native country. He has entered a “not guilty” plea.
Terra Firma looks at deals worth £1.7bn
Financier Guy Hands is said to be mulling the sale of two UK businesses, paving the way for a £1.7 billion payday.
The tycoon’s investment outfit Terra Firma has reportedly hired corporate advisers to handle the disposals of Northern Irish gas distributor Phoenix and green energy firm Infinis, for about £700 million and £1bn respectively.
The deals would mark a return to form for Hands, who lost nearly £2bn in a disastrous takeover of record label EMI just before the financial crisis. EMI was eventually taken over by its banks.