Deal Description: June 1, 2020 – McDermott International, Inc. (NYSE: MDR) (“McDermott”) completed the sale to Ithaca Acquisitions Holdings, LLC of a group of subsidiaries engaged in the business of pipe fabrication, structural steel fabrication, piping, mechanical assembly and modularization. The business includes facilities in El Dorado, Arkansas, Lake Charles and Walker, Louisiana, Laurens, South Carolina, and Clearfield, Utah, as well as interests in joint ventures operating in Bahrain and the United Arab Emirates. Key markets served by the business include refining, LNG, power, petrochemical, chemical and offshore oil and gas production. The sale transaction also included rights to the “Shaw Group” trademark, which the buyer intends to use as its primary brand.
McDermott is a premier, fully integrated provider of technology, engineering and construction solutions to the energy industry. For more than a century, customers have trusted McDermott to design and build end-to-end infrastructure and technology solutions to transport and transform oil and gas into the products the world needs today. McDermott’s proprietary technologies, integrated expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. Customers rely on McDermott to deliver certainty to the most complex projects, from concept to commissioning. It is called the “One McDermott Way.” Operating in over 54 countries, McDermott's locally focused and globally-integrated resources include more than 42,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world.
Baker Botts L.L.P. represented McDermott in the transaction.
Outside Counsel to McDermott: Baker Botts L.L.P.
Inside Counsel to McDermott: Todd Kramers, Senior Director, Corporate Transactions
Baker Botts Lawyers/Office Involved:
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