Finsbury represents McDermott International, while Joele Frank Wilkinson Brimmer Katcher work for the venerable 125-year-old Chicago Bridge & Iron in the $6B merger of leading energy infrastructure companies.
The deal melds CBI’s onshore capabilities with McDermott’s offshore strengths, especially in the Middle East energy sector led by work for Saudi Armaco, to create a company with $10B in annual revenues and a $14.5B
McDermott shareholders will control 53 percent of the new entity and CB&I investors will own 47 percent.
David Dickinson, McDermott CEO, said the deal responds to the need from global customers for “end-to-end solutions” from a “vertically integrated company.”
He will helm the merged company with CB&I chief Patrick Mullen serving in a five-year transition period to ensure a “seamless integration.”
WPP’s Finsbury unit has Kal Goldberg, Winnie Lerner and Chris Ryall handling media for McDermott
JFWBK’s CB&I team includes Dan Katcher, Ed Trissel and Leigh Parrish.