Under assessment · Notification · Phase 1 · day 5 of review, decision due 10 Dec 2026 (37 days)
Stellex Partners III LP and OrbeNovo Advisory LLP, private equity firms, propose to acquire the entire issued share capital of Buchan 2 Ltd, the holding company for Score Group Limited. Score is a global specialist in valve supply, repair, and maintenance, operating in Australia. This share sale involves financial asset investing and machinery repair.
Stellex Partners III LP (Stellex) and OrbeNovo Advisory LLP (ONA) propose to acquire the entire issued share capital of Buchan 2 Ltd, the holding company for Score Group Limited and its subsidiaries (together, "Score"). ONA is a private equity firm investing in real assets and businesses across the energy and industrial sectors. Stellex is a private equity firm investing in middle-market companies across North America and Europe. Its focus areas are aerospace, defence and government; food products and services; industrials; platform services; and transportation, logistics and distribution. Stellex recently acquired an approximate 35% shareholding interest in TEAM, Inc. ("TEAM"). TEAM is a NYSE-listed global provider of specialty industrial services headquartered in Sugar Land, Texas. TEAM provides general, multi-disciplined asset integrity services, with work predominantly focused on turnaround and shutdown-linked inspection and maintenance, rather than recurring / long term contracts, and its multi-service offering is event driven and tied to these turnaround and shutdown cycles. For TEAM, valve and actuator work is one small part of its overall service, which concerns selling discrete technical services across many different disciplines and needs. In contrast, and as explained further below, Score is a specialist for the supply, repair and maintenance of valves. Team operates in Australia through a subsidiary, Furmanite Australia Pty Ltd. Score, headquartered in Scotland, is a global specialist in aftermarket sales, repair and maintenance of valves, actuators, valve instrumentation, fuel systems and accessories, as well as the manufacture of related components. Score provides complex engineering solutions, specialist testing procedures and emissions management services to customers across multiple markets, including offshore and onshore energy as well as defence, aerospace, utilities and nuclear. In Australia, Score operates through three entities: Score Australasia, Callidus and BLJ Site Services Pty Ltd (BLJ).