Addleshaw Goddard's Dubai-based corporate team has advised Actuant Corporation on the acquisition of the Middle Eastern, North African and Caspian division of FourQuest Energy for $60m.

The acquisition centred on FourQuest's business in the United Arab Emirates, Saudi Arabia, Kuwait, Oman, Qatar, Kazakhstan and Algeria.

The acquisition is part of a growth strategy for NYSE-listed Actuant and enhances the business's current offering in one of its four key growth markets. The FourQuest business will form part of Actuant's Hydratight division.

The Addleshaw Goddard team was led by Andrew Johnston and Darren Harris with assistance from Amun Bashir, all of whom are part of AG's M&A and private equity team in Dubai.

Darren Harris stated: "The complementary expertise of Hydratight and FourQuest MENAC will create a strong platform for growth throughout this region and further afield making the businesses an excellent strategic fit. We were thrilled to work on this regional acquisition and we look forward to seeing the business go from strength to strength."

James Gaskell, Global Business Development Leader for Actuant, stated: "Addleshaw Goddard's approach on what was a complicated multi-jurisdiction transaction, including assets or parties in the United States, Canada, United Arab Emirates, Saudi Arabia, Qatar, Oman, Algeria, Kazakhstan and the United Kingdom was seamless, combining technical advice on complicated issues to deliver workable and commercial solutions."

This transaction comes off the back of a strong week for AG's corporate team, which advised on the closing of three M&A deals in the industrials and education sectors.

The Dubai corporate team continues to advise the region's top businesses on the most significant deals having advised on 15 M&A and private equity transactions during the course of 2015 and the first quarter of 2016 with a combined value of over USD 1.5billion.

Andrew Johnston, stated: "We have had a buoyant 12 months and our pipeline for 2016 remains strong despite market conditions. Our regional corporate team has genuine in-depth strength in both the M&A and private equity sectors across the region which, when coupled with Addleshaw Goddard's international reach, means that we are ideally placed to demonstrably add value in relation to our clients' most high profile transactions."