Cortec Group Completes Sale of Rotating Machinery Services
Deal News | Jan 13, 2025 | Paul Hastings
Paul Hastings LLP has successfully advised Cortec Group in the divestment of their portfolio company, Rotating Machinery Services, to Arcline Capital Partners. The transaction underscores Cortec Group's strategic movement within the aftermarket turbomachinery sector. The legal advisory team from Paul Hastings was robust, comprising key players in the private equity practice, including Brian Richards and Sam Domjen. Paul Hastings is globally acclaimed for its prowess in various facets of corporate law, cementing its role as a leading advisor on complex transactions like this sale.
Sectors
- Legal Services
- Private Equity
- Turbomachinery Industry
Geography
- United States – Paul Hastings and Cortec Group are both based in the United States, indicating this as the primary geographical involvement.
Industry
- Legal Services – Paul Hastings LLP is acting as a legal advisor in the sale transaction, indicating the legal industry’s involvement.
- Private Equity – Cortec Group is a private equity firm, playing a central role in the sale of its portfolio company.
- Turbomachinery Industry – Rotating Machinery Services operates within the turbomachinery industry, providing aftermarket services for such equipment.
Financials
- Not Disclosed – The financial terms of the transaction were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Paul Hastings LLP | Legal Advisor | Company | Paul Hastings is a top-tier law firm providing advisory services for this sale transaction. |
| Cortec Group | Seller | Company | Cortec Group is the private equity firm selling Rotating Machinery Services. |
| Rotating Machinery Services | Target Company | Company | Rotating Machinery Services is the portfolio company being sold in the transaction. |
| Arcline Capital Partners | Buyer | Company | Arcline Capital Partners is the acquiring company of Rotating Machinery Services. |