The Raccortubi Group, active in Italy and around the world through its companies producing and distributing piping materials in special steels for the petrochemical industry, announces that it has completed the acquisition of 100 % of the capital of Norsk Alloys Ltd, a company based in Aberdeen, Scotland, with long experience in the distribution of pipes, fittings and flanges for Oil & Gas.

Raccortubi was assisted in the transaction by K Finance and Orbis (partners for Italy and UK of Clairfield International, respectively) as financial advisors to the buyer, Studio Pedersoli e Associati and Mills&Reeve as legal advisors, and BDO LLP for accounting due diligence. Norsk Alloys was assisted by Infinity Partnership and Stronachs LLP as financial and legal advisors to the seller, respectively.

The acquisition of Norsk Alloys, whose new company name will be Raccortubi Norsk Ltd, is aimed at strengthening the Group's international distribution network - made up of Raccortubi do Brasil, Raccortubi Middle East (Dubai) and Raccortubi Singapore - by consolidating its presence in the Oil & Gas sector, the Group's historic target market. This important presence in the UK will join Raccortubi UK, a company recently established in the London area to provide a dedicated service to Engineering Companies, plant engineers and major end customers.

Luca Pentericci regarding the transaction said: "We are proud to make an Italian contribution to the construction of offshore platforms for oil extraction in the North Seas by further strengthening, with this acquisition, our presence in a highly specialized market such as Scotland."

The Raccortubi Group operates globally with interconnected warehouses to offer a wide range of austenitic, duplex, superduplex, 6mo, nickel alloy, and titanium alloy pipes, fittings, and flanges.

Hegra, based in Limburg near Dusseldorf, has become a recognized leader in a niche market through its ability to provide highly customized solutions for customers worldwide.