Stout is pleased to announce that its client, Clough Ltd. (Clough), has acquired Saulsbury Industries, Inc.’s (Saulsbury) Gulf Coast downstream and chemical business unit, as well as Saulsbury’s Gulf Coast Engineering, Procurement & Construction (EPC) portfolio.

The acquisition of both the business unit and portfolio supports Clough’s current growth strategies for North America by expanding its capabilities in the downstream, petrochemical/chemical, midstream, and liquified natural gas (LNG) markets. The deal also allows Clough to expand its service offerings to encompass a comprehensive range of project-delivery solutions, such as fully integrated EPC, design and construct, and construct/commissioning-only services.

“We are excited to welcome our new colleagues to the Clough family,” said Clough CEO and Managing Director Peter Bennett. “We expect this acquisition to be a key component of Clough’s North American growth and a complement to our global engineering and construction capabilities. The North American market continues to demonstrate stable and sustained growth and presents vast opportunities in the oil and gas sector.” 

Clough announced that Adam Stashick, Vice President and General Manager of Clough USA, will lead the newly combined organization.

“The addition of the Saulsbury Gulf Coast downstream and chemical business unit, its Gulf Coast EPC assets, and its highly skilled workforce establishes a strong regional presence for Clough,” said Todd Parsapour, Managing Director and Head of the Energy practice within Stout’s Investment Banking group. “It also provides an excellent platform from which Clough can execute its strategic growth initiatives nationwide.”

Stout’s Daren Johnson and Nick Dreps assisted on the transaction.

About Saulsbury

Saulsbury is a full-service engineering, procurement, fabrication, and construction company that specializes in building energy and heavy industrial infrastructure assets. Saulsbury offers services in upstream and midstream oil and gas including gas processing and treatment, CO2, terminals, and field services. Saulsbury was founded in 1967 and is headquartered in Odessa, TX.

About Clough

Clough Ltd. provides engineering, procurement, construction, commissioning, and asset support services for oil and gas, metals and minerals, and infrastructure projects in Australia, Asia, Africa, Papua New Guinea, the United Kingdom, and North America. It offers services for upstream, downstream, onshore, and offshore oil and gas, coal seam gas, and petrochemical facilities. In addition, it offers services for public and private infrastructure projects, including water and wastewater, power, roads and bridges, and marine. The company was founded in 1919 and is headquartered in West Perth, Australia. Clough is a subsidiary of Murray & Roberts Holdings Ltd. (JSE: MUR).

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