First Reserve Management Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, First Reserve Management has acquired 5 companies. It has also invested in 1 other.

First Reserve Management’s most common sectors for investment areenergy services and equipment (30%) and oil/gas exploration (27%) . 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 20 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 4 companies. The Firm’s most common exit type is trade sale (37%). First Reserve Management’s largest (disclosed) exit occurred in 2008 when it sold Quintana Maritime for $2.5B.

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M&A Summary

M&A Total Activity156
- M&A Buy Activity107
- M&A Sell Activity49
Total Sectors Invested 21
Total Countries Invested 19
M&A Buy/Sell Connections 53
M&A Advisors 8

First Reserve Management L.P.

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

Transaction Criteria

Min

Max

Target Revenue

Target EBITDA

Investment Size

Enterprise Value

Year	≤ '17	'18	'19	'20	'21	'22	T
Buy (2.0/yr)	#	97	4	5	1	-	-	107
vol	$7.6B	$75M	$558M				$8.3B
Sell (1.4/yr)	#	42	3	2	2	-	-	49
vol	$15.2B	$1.2B					$16.4B
	156

Year

≤ '17

'18

'19

'20

'21

'22

Buy (2.0/yr)

107

vol

$7.6B

$75M

$558M

$8.3B

Sell (1.4/yr)

vol

$15.2B

$1.2B

$16.4B

156

Company	Date	Value	Type
GridTek Utility Services	2020-12-01	-	Growth Capital
Melbourne, Florida · www.gridtekus.com
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
View All >>

Company

Date

Value

Type

GridTek Utility Services

2020-12-01

Growth Capital

Melbourne, Florida · www.gridtekus.com

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

View All >>

Company	Acquired	Add-On/Sale	Date	#
IRISNDT Corp. (IRISNDT Inspection & Engineering Services)	2019-05-09	James Fisher NDT Ltd.	2022-01-05	2
Edmonton, Alberta · www.irisndt.com	Cumbria, United Kingdom · www.jfndt.co.uk
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.	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

Company

Acquired

Add-On/Sale

Date

IRISNDT Corp. (IRISNDT Inspection & Engineering Services)

2019-05-09

James Fisher NDT Ltd.

2022-01-05

Edmonton, Alberta · www.irisndt.com

Cumbria, United Kingdom · www.jfndt.co.uk

CHA Consulting, Inc.

2018-04-10

CHA Consulting, Inc. - New York Survey Group

2019-01-24

Albany, New York · www.chacompanies.com

Albany, New York

Eagle Infrastructure Services

2016-09-12

STS Consulting Services LLC - Inspection Business

2018-09-13

Cleveland, Oklahoma · www.eagle-infra.com

Longview, Texas

AFG Holdings, Inc.

2012-12-27

Advanced Measurements, Inc.

2017-06-30

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

Houston, Texas · www.tpcgrp.com

houston, Texas

Arsenal Resources LLC

2011-07-01

PDC Mountaineer LLC

2014-10-15

Pittsburgh, Pennsylvania · www.arsenalresources.com

Bridgeport, West Virginia

Sector	Current #	Value	All-time #	Value
Energy Services and Equipment	8 (25%)	-	32 (30%)	4.5B (55%)
Oil/Gas Exploration	9 (28%)	75M (4%)	28 (26%)	1.6B (19%)
Renewable Energy	2 (6%)	-	10 (9%)	-
Metals/Mining	1 (3%)	-	7 (7%)	69M (1%)
Utilities	2 (6%)	196M (12%)	4 (4%)	196M (2%)
Manufacturing	2 (6%)	558M (33%)	3 (3%)	558M (7%)
Business Services	2 (6%)	-	3 (3%)	-
Marine	-	-	3 (3%)	-
Construction	1 (3%)	-	2 (2%)	-
Electrical Equipment	1 (3%)	-	2 (2%)	-
Infrastructure	-	-	2 (2%)	-
Transportation	-	-	2 (2%)	-
Chemicals	1 (3%)	850M (51%)	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	$1.7B	107	$8.3B

Sector

Current #

Value

All-time #

Value

Energy Services and Equipment

8 (25%)

32 (30%)

4.5B (55%)

Oil/Gas Exploration

9 (28%)

75M (4%)

28 (26%)

1.6B (19%)

Renewable Energy

2 (6%)

10 (9%)

Metals/Mining

1 (3%)

7 (7%)

69M (1%)

Utilities

2 (6%)

196M (12%)

4 (4%)

196M (2%)

Manufacturing

2 (6%)

558M (33%)

3 (3%)

558M (7%)

Business Services

2 (6%)

3 (3%)

Marine

3 (3%)

Construction

1 (3%)

2 (2%)

Electrical Equipment

1 (3%)

2 (2%)

Infrastructure

2 (2%)

Transportation

2 (2%)

Chemicals

1 (3%)

850M (51%)

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

$1.7B

107

$8.3B

State/Country	Current #	Value	All-time #	Value
United States	23 (72%)	1.2B (70%)	70 (66%)	7.1B (86%)
	Texas	14 (44%)	985M (59%)	36 (34%)	2.4B (29%)
	Virginia	-	-	5 (5%)	-
	Connecticut	1 (3%)	-	4 (4%)	-
	Oklahoma	2 (6%)	-	3 (3%)	-
	Georgia	-	-	3 (3%)	460M (6%)
	Colorado	-	-	2 (2%)	-
	West Virginia	-	-	2 (2%)	-
	Ohio	1 (3%)	196M (12%)	1 (1%)	196M (2%)
	South Carolina	1 (3%)	-	1 (1%)	-
	Pennsylvania	1 (3%)	-	1 (1%)	-
	New York	1 (3%)	-	1 (1%)	-
	Florida	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	2 (6%)	75M (4%)	7 (7%)	657M (8%)
	Alberta	2 (6%)	75M (4%)	5 (5%)	657M (8%)
	Ontario	-	-	1 (1%)	-
	British Columbia	-	-	1 (1%)	-
United Kingdom	1 (3%)	423M (25%)	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	$1.7B	106	$8.3B

State/Country

Current #

Value

All-time #

Value

United States

23 (72%)

1.2B (70%)

70 (66%)

7.1B (86%)

Texas

14 (44%)

985M (59%)

36 (34%)

2.4B (29%)

Virginia

5 (5%)

Connecticut

1 (3%)

4 (4%)

Oklahoma

2 (6%)

3 (3%)

Georgia

3 (3%)

460M (6%)

Colorado

2 (2%)

West Virginia

2 (2%)

Ohio

1 (3%)

196M (12%)

1 (1%)

196M (2%)

South Carolina

1 (3%)

1 (1%)

Pennsylvania

1 (3%)

1 (1%)

New York

1 (3%)

1 (1%)

Florida

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

2 (6%)

75M (4%)

7 (7%)

657M (8%)

Alberta

2 (6%)

75M (4%)

5 (5%)

657M (8%)

Ontario

1 (1%)

British Columbia

1 (1%)

United Kingdom

1 (3%)

423M (25%)

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

$1.7B

106

$8.3B

Type	Current #	Value	All-time #	Value
Buyout (LBO, MBO, MBI)	13 (41%)	75M (4%)	61 (57%)	3.4B (42%)
Stake Purchase	2 (6%)	-	12 (11%)	-
Secondary Buyout	5 (16%)	-	10 (9%)	460M (6%)
Divestiture	6 (19%)	558M (33%)	9 (8%)	3.3B (40%)
Growth Capital	2 (6%)	-	6 (6%)	-
Joint Venture	2 (6%)	-	5 (5%)	-
Going Private	2 (6%)	1.0B (62%)	2 (2%)	1.0B (13%)
Consolidation	-	-	1 (1%)	-
PIPE	-	-	1 (1%)	-
Total	32	$1.7B	107	$8.3B

Type

Current #

Value

All-time #

Value

Buyout (LBO, MBO, MBI)

13 (41%)

75M (4%)

61 (57%)

3.4B (42%)

Stake Purchase

2 (6%)

12 (11%)

Secondary Buyout

5 (16%)

10 (9%)

460M (6%)

Divestiture

6 (19%)

558M (33%)

9 (8%)

3.3B (40%)

Growth Capital

2 (6%)

6 (6%)

Joint Venture

2 (6%)

5 (5%)

Going Private

2 (6%)

1.0B (62%)

2 (2%)

1.0B (13%)

Consolidation

1 (1%)

PIPE

1 (1%)

Total

$1.7B

107

$8.3B

Type	Total #	Value
Trade Sale - Public Company	14 (29%)	14.8B (90%)
IPO	13 (27%)	-
Trade Sale	9 (18%)	744M (5%)
Secondary Sale	6 (12%)	872M (5%)
Bankruptcy	3 (6%)	-
Merger	1 (2%)	-
Sold to Management	1 (2%)	-
Stake Sale	1 (2%)	-
Unknown	1 (2%)	-
Total	49	$16.4B

Type

Total #

Value

Trade Sale - Public Company

14 (29%)

14.8B (90%)

IPO

13 (27%)

Trade Sale

9 (18%)

744M (5%)

Secondary Sale

6 (12%)

872M (5%)

Bankruptcy

3 (6%)

Merger

1 (2%)

Sold to Management

1 (2%)

Stake Sale

1 (2%)

Unknown

1 (2%)

Total

$16.4B

Financial	Deals
Winchester Technology Advisors Ltd.	1
Jefferies LLC	1
Simmons & Company International Ltd.	1

Financial

Deals

Winchester Technology Advisors Ltd.

Jefferies LLC

Simmons & Company International Ltd.

Legal	Deals
Simpson Thacher & Bartlett LLP	3
Freshfields Bruckhaus Deringer LLP	1

Legal

Deals

Simpson Thacher & Bartlett LLP

Freshfields Bruckhaus Deringer LLP

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)

buy

Total

> $1B

$4.3B

$100M to $1B

$3.9B

< $100M

$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)

sell

Total

> $1B

$12.1B

$100M to $1B

$4.2B

< $100M

$84M

TOTAL

$16.4B

Largest

Quintana Maritime Ltd.
$2.5B (2008-03-20)

		Deals
Acquired from
Investor(s)	8%	9 (8%)
Strategic(s)	8%	9 (8%)
Exited to
Investor(s)	14%	7 (14%)
Strategic(s)	41%	20 (41%)

Deals

Acquired from

Investor(s)

9 (8%)

Strategic(s)

9 (8%)

Exited to

Investor(s)

7 (14%)

Strategic(s)

20 (41%)

First Reserve Management Mergers and Acquisitions Summary

Private Equity Firm Profile

M&A Summary

First Reserve Management L.P.

Investment Criteria

M&A Summary

Buy vs Sell

Most Recent M&A

Portfolio M&A

M&A by Sector

Acquisitions By Geo

Acquisitions by Deal Type

Exits by Deal Type

Top M&A Advisors

Deal Values

M&A Connections

Investor Summary

Investor Type

Size

PE Assets

Established

Specialist/Generalist

Leadership

Alex Krueger

Edward Bialas

Gary Reaves

Jeffrey Quake

John Hill

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Company

Legal

First Reserve Management Mergers and Acquisitions Summary

Private Equity Firm Profile

M&A Summary

First Reserve Management L.P.

Investment Criteria

M&A Summary

Buy vs Sell

Most Recent M&A

Portfolio M&A

M&A by Sector

Acquisitions By Geo

Acquisitions by Deal Type

Exits by Deal Type

Top M&A Advisors

Deal Values

M&A Connections

Investor Summary

Investor Type

Size

PE Assets

Established

Specialist/Generalist

Leadership

Alex Krueger

Edward Bialas

Gary Reaves

Jeffrey Quake

John Hill

Subscribe to unlock this and 183,155 investor and company profiles

Sign-up today to get full access

What's Mergr?

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

Key Benefits

Search

Ready to try?

Product

Company

Legal

Subscribe to unlock this and 183,155
investor and company profiles