International oilfield support services | www.ascoworld.com
ASCO is a leading international oil and gas logistics company supporting its customers in the management of equipment and goods for oil and gas drilling and production platforms. The company provides offshore and onshore logistics, international freight management and waste management services, on a global basis. Phoenix invested in ASCO in October 2006.
CEO Billy Allan was recruited by Phoenix to lead the business. There was a strong focus on cross-selling the group’s services to customers across geographies. The group’s international footprint was grown, with the successful completion of ten acquisitions in Norway, Canada, Azerbaijan, Australia and elsewhere. After revenue and profits were significantly increased, ASCO was sold to Doughty Hanson in December 2011, delivering a 3.0x return on investment.
"Phoenix is an outstanding business parter. Their ambition for the business matched my own.”
Billy Allan, CEO, ASCO