Doughty Hanson acquires oil and gas logistics firm ASCO

Independent private equity firm Doughty Hanson & Co is to acquire ASCO, a provider of outsourced logistics services and solutions to the oil and gas industry, from Phoenix Equity Partners.

ASCO provides oilfield logistics services, co-ordinating the supply of goods destined for (and returning from) oil rigs and platforms, including delivery of everything from drilling equipment to food supplies.

The company is also involved in specialist international logistics and oilfield waste management.

Financial details of the transaction are not being disclosed, however the ASCO management team will be remaining with the business and reinvesting in the transaction.