HFI Supports IAS Spin-Out from Drilling Systems
HFI Consulting International is pleased to have acted for consultancy firm Integrated Advisory Service (IAS) on a management buy-out from its owners Drilling Systems.
The HFI team supported IAS International, which will now develop and expand its portfolio of training and competence consultancy services in the oil and gas industry, on legal aspects of the deal.
HFI advised IAS managing director Graeme Eglintine – previously vice president of Drilling Systems’ IAS & Middle East and North Africa (MENA) region - on the setting up of a separate independent company in a deal which will also allow for a continuing collaboration agreement with Drilling Systems.
Managing partner Hugh Fraser said: “We are very pleased to have supported Graeme with the acquisition of IAS from Drilling Systems. Due to the fact that there was to be a continued connection between the two entities, this was not a straight forward contract negotiation.
“However, we are delighted to have helped IAS reach a solution that was acceptable for both parties and which leaves both in a very strong position. Graeme consulted with HFI at a very early stage in the process, and that was key to achieving a successful outcome.”
While IAS, first established in 2016 will continue to provide training, development, competence and talent management solutions, the buy-out will enable Drilling Systems to focus on its simulator business.