New owner for Asco

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Asco Group, which provides logistics services to the oil and gas industry has been bought by private equity firm Doughty Hanson from Phoenix Equity Partners.

Asco co-ordinates the supply of goods destined for (and returning from) oil rigs and platforms. This includes the delivery of everything from drilling equipment to food supplies. ASCO is also involved in specialist international logistics and oilfield waste management.

The deal gives Doughty Hanson a foothold in the outsourced logistics market, where it sees significant, long term growth potential.

The Asco management team will be remaining with the business and reinvesting in the transaction.

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