First Reserve Management Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, First Reserve Management has acquired 9 companies.

First Reserve Management’s most common sectors for investment areenergy services and equipment (29%) and oil/gas exploration (28%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (58%) and stake purchase (12%). In total, First Reserve Management has invested in 19 US states and 19 different countries. Its largest (disclosed) acquisition occurred in 2001 when it acquired Dresser for $1.6B.

In the last 3 years, First Reserve Management has exited 7 companies. The Firm’s most common exit type is trade sale (36%). First Reserve Management’s largest (disclosed) exit occurred in 2008 when it sold Quintana Maritime for $2.5B.

Join Mergr to view First Reserve Management’s full profile and discover more mega-sized private equity firms just like it.

M&A Summary

  • M&A Total Activity154
    • M&A Buy Activity106
    • M&A Sell Activity48
  • Total Sectors Invested 21
  • Total Countries Invested 19
  • M&A Buy/Sell Connections 53
  • M&A Advisors 8

First Reserve Management L.P.

First Reserve 290 Harbor Drive,
Stamford, Connecticut 06902
United States
(203) 661-6601
www.firstreserve.com

First Reserve Corporation is a specialist private equity firm focused on investments in energy companies. First Reserve targets equity investments of $50 to $500 million in companies valued from $100 million to $10 billion. Target areas of interest within the energy industry include energy manufacturing and services (drilling service providers and wellhead equipment manufacturers), energy infrastructure, energy reserves, renewable energy and alternative fuels, and energy related insurance and financial products. First Reserve was established in 1983 and has offices in Greenwich, Connecticut; Houston, Texas; and London.


Investment Criteria

Sectors of Interest: Business Services, Electrical Equipment, Energy Services and Equipment, Engineering, Environmental, Financial Services, Infrastructure, Insurance, Manufacturing, Marine, Metals/Mining, Oil/Gas Exploration, Renewable Energy, Software, Transportation, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Special Situations/Distressed, Secondary Buyout, Stake Purchase, Joint Venture

Geographic Preferences: East US, Midwest US, South US, West US, Canada, Western Europe, Eastern Europe, Central Asia/India

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (2.4/yr) # 94 3 4 5 - - 106
vol $7.6B $75M $558M $8.3B
Sell (1.6/yr) # 40 1 3 2 2 - 48
vol $13.7B $1.5B $1.2B $16.4B
  154

Most Recent M&A

Company Date Value Type
Vista Proppants and Logistics LLC 2020-06-10 - Bankruptcy
Fort Worth, Texas · www.vprop.com
Templar Energy LLC 2020-06-01 - Bankruptcy
Oklahoma City, Oklahoma
Diamond S Shipping 2019-11-20 - IPO
Greenwich, Connecticut · www.diamondsshipping.com
Lamons 2019-11-04 135M USD Divestiture
Houston, Texas · www.lamons.com
IRISNDT Corp. (IRISNDT Inspection & Engineering Services) 2019-05-09 - Buyout (LBO, MBO, MBI)
Edmonton, Alberta · www.irisndt.com
Midstates Petroleum Co. Inc. 2019-05-06 - Merger
Houston, Texas · www.midstatespetroleum.com
Weir Flow Control 2019-02-25 423M GBP Divestiture
Glasgow, United Kingdom
Refuel, Inc. 2019-02-22 - Buyout (LBO, MBO, MBI)
Mt. Pleasant, South Carolina · www.refuelmarket.com
LineStar Integrity Services LLC 2019-01-16 - Buyout (LBO, MBO, MBI)
Pasadena, Texas · www.linestar.com
Texas American Resources Co.II LLC 2018-09-01 - Buyout (LBO, MBO, MBI)
Austin, Texas · www.texasarc.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
CHA Consulting, Inc. 2018-04-10 CHA Consulting, Inc. - New York Survey Group 2019-01-24 1
Albany, New York · www.chacompanies.com Albany, New York
Eagle Infrastructure Services 2016-09-12 STS Consulting Services LLC - Inspection Business 2018-09-13 3
Cleveland, Oklahoma · www.eagle-infra.com Longview, Texas
AFG Holdings, Inc. (AFGlobal Corp.) 2012-12-27 Advanced Measurements, Inc. 2017-06-30 2
Houston, Texas · www.afglobalcorp.com Calgary, Alberta · www.advmeas.com
TPC Group, Inc. 2012-08-27 TPC Group - Key Raw Material Facility 2016-10-10 1
Houston, Texas · www.tpcgrp.com houston, Texas
Arsenal Resources LLC 2011-07-01 PDC Mountaineer LLC 2014-10-15 1
Pittsburgh, Pennsylvania · www.arsenalresources.com Bridgeport, West Virginia

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment 7 (22%) - 30 (28%) 4.0B (48%)
Oil/Gas Exploration 10 (31%) 75M (3%) 29 (27%) 1.6B (19%)
Renewable Energy 2 (6%) - 10 (9%) -
Metals/Mining 1 (3%) - 7 (7%) 69M (1%)
Business Services 3 (9%) 582M (26%) 4 (4%) 582M (7%)
Manufacturing 2 (6%) 558M (25%) 3 (3%) 558M (7%)
Utilities 1 (3%) 196M (9%) 3 (3%) 196M (2%)
Marine - - 3 (3%) -
Construction 1 (3%) - 2 (2%) -
Electrical Equipment 1 (3%) - 2 (2%) -
Infrastructure - - 2 (2%) -
Transportation - - 2 (2%) -
Chemicals 1 (3%) 850M (38%) 1 (1%) 850M (10%)
Machinery - - 1 (1%) 460M (6%)
Building Materials - - 1 (1%) -
Distribution 1 (3%) - 1 (1%) -
Engineering - - 1 (1%) -
Environmental - - 1 (1%) -
Information Technology 1 (3%) - 1 (1%) -
Insurance - - 1 (1%) -
Retail 1 (3%) - 1 (1%) -
Total 32 $2.3B 106 $8.3B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 22 (69%) 1.2B (52%) 69 (66%) 7.1B (86%)
  Texas 14 (44%) 985M (44%) 36 (34%) 2.4B (29%)
  Virginia - - 5 (5%) -
  Connecticut 1 (3%) - 4 (4%) -
  Oklahoma 2 (6%) - 3 (3%) -
  Georgia - - 3 (3%) 460M (6%)
  West Virginia - - 2 (2%) -
  Colorado - - 2 (2%) -
  Ohio 1 (3%) 196M (9%) 1 (1%) 196M (2%)
  South Carolina 1 (3%) - 1 (1%) -
  Pennsylvania 1 (3%) - 1 (1%) -
  New York 1 (3%) - 1 (1%) -
  Illinois - - 1 (1%) 1.6B (19%)
  New Jersey - - 1 (1%) 1.5B (18%)
  Maryland - - 1 (1%) 967M (12%)
  Montana - - 1 (1%) -
  Missouri - - 1 (1%) -
  Massachusetts - - 1 (1%) -
  California - - 1 (1%) -
Canada 3 (9%) 657M (29%) 7 (7%) 657M (8%)
  Alberta 3 (9%) 657M (29%) 5 (5%) 657M (8%)
  Ontario - - 1 (1%) -
  British Columbia - - 1 (1%) -
United Kingdom 1 (3%) 423M (19%) 6 (6%) 423M (5%)
Netherlands 1 (3%) - 3 (3%) -
Spain - - 3 (3%) -
Italy 1 (3%) - 2 (2%) -
Australia 1 (3%) - 2 (2%) -
China - - 2 (2%) -
Bermuda - - 2 (2%) -
India 1 (3%) - 1 (1%) -
Brazil 1 (3%) - 1 (1%) -
Romania 1 (3%) - 1 (1%) -
South Africa - - 1 (1%) 69M (1%)
Germany - - 1 (1%) -
Bahamas - - 1 (1%) -
Norway - - 1 (1%) -
Singapore - - 1 (1%) -
Switzerland - - 1 (1%) -
Total 32 $2.3B 105 $8.3B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 14 (44%) 657M (29%) 61 (58%) 3.4B (42%)
Stake Purchase 2 (6%) - 12 (11%) -
Secondary Buyout 5 (16%) - 10 (9%) 460M (6%)
Divestiture 6 (19%) 558M (25%) 9 (8%) 3.3B (40%)
Growth Capital 1 (3%) - 5 (5%) -
Joint Venture 2 (6%) - 5 (5%) -
Going Private 2 (6%) 1.0B (46%) 2 (2%) 1.0B (13%)
Consolidation - - 1 (1%) -
PIPE - - 1 (1%) -
Total 32 $2.3B 106 $8.3B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 13 (27%) 14.8B (90%)
IPO 13 (27%) -
Trade Sale 9 (19%) 744M (5%)
Secondary Sale 6 (13%) 872M (5%)
Bankruptcy 3 (6%) -
Merger 1 (2%) -
Sold to Management 1 (2%) -
Stake Sale 1 (2%) -
Unknown 1 (2%) -
Total 48 $16.4B

Top M&A Advisors

Financial Deals
J.P. Morgan Securities LLC
1
Winchester Technology Advisors Ltd.
1
Jefferies LLC
1
Legal Deals
Simpson Thacher & Bartlett LLP
3
Freshfields Bruckhaus Deringer LLP
1

Deal Values

buy # Total
> $1B 3 $4.3B
$100M to $1B 8 $3.9B
< $100M 2 $144M
TOTAL $8.3B
Largest Dresser, Inc.
$1.6B (2001-04-10)
sell # Total
> $1B 7 $12.1B
$100M to $1B 7 $4.2B
< $100M 2 $84M
TOTAL $16.4B
Largest Quintana Maritime Ltd.
$2.5B (2008-03-20)

M&A Connections

Deals
Acquired from
Investor(s)
8%
9 (8%)
Strategic(s)
8%
9 (8%)
Exited to
Investor(s)
15%
7 (15%)
Strategic(s)
40%
19 (40%)

 Subscribe to unlock this and 169,252
investor and company profiles

Sign-up today to get full access

  • check  Unlimited Searches
  • check  Unlimited Profile Views
  • check  Build and Export Lists of
    • PE Backed Companies
    • Direct Investors & Acquirers
    • Advisors
    • Deals
    • & More

What's Mergr?

We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them.

Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone.

Try us for 1 week free today!

Mergr, the Easiest-to-Use PE and M&A DB


Key Benefits

  • Stay informed on events in your industry
  • M&A research that takes seconds (not all afternoon)
  • Better understand your customers and prospects
  • Discover active buyers (or sellers)
Search
  • 4.2K Private Equity Firms
  • 159K M&A Transactions
  • 165K Companies Involved in M&A
    (Buyer, Seller, or Target)
  • 3.3K M&A Advisors
    (Investment Banks and Law Firms)
  • 57K M&A Contacts
    (PE and M&A Advisors)

Ready to try?

Join FREE for 1 Week

No obligation. Cancel anytime.