Niels Kirk appointed Executive Chairman and Jim Peterkin as Chief Executive
March 2024
Kirk Lovegrove & Company Limited (“KLC”), the leading independent energy advisory firm, today announces the next phase of planned growth with the appointment of a new Executive Chairman and Chief Executive.
Over the last five years KLC has been at the forefront of global energy transactions. The group is continually on the majority of pitch lists for any major potential transaction in the energy sector. Cornerstone transactions KLC has advised on include:
- ConocoPhillips’ sale of its UK E&P subsidiaries – US$2.7bn (2019)
- Carlyle and SierraCol’s acquisition of Occidental Colombia – US$825m (2020)
- JX Nippon’s sale of its UK E&P subsidiary – US$1.6bn (2021)
- Tailwind’s sale to Serica plc – US$782m (2022)
- Advising on new debt finance for Serica plc – US$525m (2023)
KLC anticipates the energy sector to be very active in the next two years with M&A transactions driven by deals in the new energy space as the risk profile evolves. Furthermore, KLC expects to see a continuation of traditional energy asset ownership moving from the public to the private sector across regions, including Norway, the Middle East and SE Asia.
The outlook for KLC is encouraging due to the significant need for increased investment in energy assets globally at a time when traditional global investment banks and providers of finance and advisory services are withdrawing from the sector. The firm has a strong and experienced team and robust pipeline, and sees major opportunities in the new and traditional energy areas.
Martin Lovegrove, Non-Executive Director, said: “After more than 50 years in the oil and gas industry I have decided it is time to step down as Chairman of KLC. With the support of our shareholders and strong team, Niels and I have managed to build a successful and profitable company. It has a highly experienced team with all of the skill sets required to ensure clients are well advised in the areas of oil and gas and new energy activities. As in any business it is important to evolve as markets and dynamics change. The Board and I are confident that KLC will have a bright future under the stewardship of Niels and Jim and the firm’s other executive Director, Michael Bridden.”
Niels Kirk, Executive Chairman of KLC, said: “Martin Lovegrove is the undisputed M&A sage in the oil and gas sector with a fifty year long heritage which is embedded today in the firm. We are very pleased his involvement continues as a non-executive director and shareholder. This is a natural evolution for the firm. Jim Peterkin and I have a very clear vision focused on further developing KLC’s global leadership position within the new and traditional energy sectors advising our book of high quality clients who are involved in a range of fascinating transactions. Our team has the expertise and experience required by the C-suite of energy companies who are facing a range of strategic issues globally, be it M&A&D to capital structuring to business development. We provide the strategic insight and counsel which makes a real difference.”
Jim Peterkin, Chief Executive Officer of KLC, said: “I am delighted to have the opportunity to oversee the next stage of growth and development at the firm. 2023 was another profitable year for the company, despite a number of market and governmental headwinds, particularly in the UK. 2024 has started well and we look to the future with confidence.”
KLC has advised over 37 clients in more than 25 countries and has an extensive network of contacts globally. Whether Majors, IOCs, PE backed companies or PE firms themselves, these clients have all benefitted from KLC’s background, skillset and experience which allows it to evaluate a broad range of solutions and provide strategic and financial advice.
These appointments remain subject to final approval by the Financial Conduct Authority, which has been requested.