McGuireWoods lawyers in London and the United States advised UK provider of essential components and solutions Essentra PLC (LSE: ESNT) in selling its Pipe Protection Technologies business to National Oilwell Varco, Inc. (NYSE: NOV), a Texas-based oil and gas equipment provider. The US$48 million (£38 million) cross-border transaction involving assets in the UK, Canada, Mexico and the United States closed Jan. 14.
McGuireWoods assisted Essentra, a longtime client of the firm, in all aspects of the transaction. The sale was led by partner Jeffrey Rothschild, and the deal team included partners Mebs Dossa, James Gelman, J. Brent Justus; and associates Daniel Bidwell, Steve Carrington and Adir Paner. Partner David Franchina represented Essentra on environmental regulatory aspects of the deal. Partners Taylor French andBob McElroy, senior counsel Paul Navarro and associate Alexia Faraguna advised on tax, benefits and other employment matters. Partner Janet Peyton provided counsel on intellectual property issues, and partner Josiah Bancroft handled real estate matters.