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Meridian advised the shareholders on the sale of Jiskoot Holdings Ltd to NYSE listed Oil & Gas services company, Cameron International Corporation for a total consideration of £11m.
Founded in 1961 by Jacob Jiskoot, the company now employs 60 people from the head office in Tonbridge Wells and branch in Houston Texas, with further sales offices worldwide. Jiskoot is recognised as one of the world’s leaders in the field of sampling, blending and multiphase measurement. These are all vital and growing areas of the oil industry, helping ensure oil products are properly analysed. Over 60% of the world’s crude oil is measured using Jiskoot systems.
Jiskoot has an enviable customer base, dealing with major oil companies and engineering procurement contractors around the world.
Cameron is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries. The acquisition will serve to combine Jiskoot’s market leadership with the reputation and product portfolios of Cameron’s current sampling brands Cliff Mock® and True Cut®. With the power and capital behind a company of Cameron’s size and reputation Jiskoot will be able to take advantage of emerging global opportunities for larger projects and engineered sampling systems.
Current Jiskoot CEO, Mark Jiskoot, will be assuming leadership responsibilities for all sampling activities within the Measurement Systems division of Cameron.
Mark Jiskoot commented, “Without question, this merger of technologies and products positions Cameron as a dominant provider of sampling, blending and multi-phase solutions across the entire oil and gas value chain. My family has worked hard to build the business over many years and I am confident that Cameron is the right partner to enable Jiskoot to reach the next level. I would like to thank the Meridian team, for guiding us through this complicated process.”
Legal advice to the shareholders was provided by Manoj Styche-Patel of Blake Lapthorn.
