First Reserve Management Mergers and Acquisitions Summary

Private Equity Profile

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

First Reserve Management’s most common sectors for investment are energy services and equipment (32%) and oil/gas exploration (25%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (59%) and stake purchase (11%). 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 4 companies. The Firm’s most common exit type is trade sale (40%). 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 Activity149
- M&A Buy Activity106
- M&A Sell Activity43
Total Sectors Invested 22
Total Countries Invested 19
M&A Buy/Sell Connections 50
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

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	≤ '16	'17	'18	'19	'20	'21	T
Buy (2.4/yr)	#	94	3	4	5	-	-	106
vol	$7.6B		$75M	$558M			$8.3B
Sell (1.0/yr)	#	38	1	3	-	1	-	43
vol	$13.7B	$1.5B	$1.2B				$16.4B
	149

Year

≤ '16

'17

'18

'19

'20

'21

Buy (2.4/yr)

106

vol

$7.6B

$75M

$558M

$8.3B

Sell (1.0/yr)

vol

$13.7B

$1.5B

$1.2B

$16.4B

149

Company	Date	Value	Type
Vista Proppants and Logistics LLC	2020-06-10	-	Bankruptcy
Fort Worth, Texas · www.vprop.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
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
Deep Gulf Energy LP	2018-08-06	1.2B USD	Add-on Acquisition
Houston, Texas · www.deepgulfenergy.com
Dresser Natural Gas Solutions	2018-07-18	-	Divestiture
, Italy
Texas American Resources Co. LLC	2018-06-01	-	Add-on Acquisition
Austin, Texas
View All >>

Company

Date

Value

Type

Vista Proppants and Logistics LLC

2020-06-10

Bankruptcy

Fort Worth, Texas · www.vprop.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

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

Deep Gulf Energy LP

2018-08-06

1.2B USD

Add-on Acquisition

Houston, Texas · www.deepgulfenergy.com

Dresser Natural Gas Solutions

2018-07-18

Divestiture

, Italy

Texas American Resources Co. LLC

2018-06-01

Add-on Acquisition

Austin, Texas

View All >>

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	1
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

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. (AFGlobal Corp.)

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	11 (29%)	-	33 (31%)	4.0B (48%)
Oil/Gas Exploration	10 (26%)	75M (3%)	26 (25%)	1.6B (19%)
Renewable Energy	2 (5%)	-	9 (8%)	-
Metals/Mining	1 (3%)	-	7 (7%)	69M (1%)
Marine	2 (5%)	-	4 (4%)	-
Business Services	3 (8%)	582M (26%)	3 (3%)	582M (7%)
Manufacturing	2 (5%)	558M (25%)	3 (3%)	558M (7%)
Utilities	1 (3%)	196M (9%)	3 (3%)	196M (2%)
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%)	-
Safety/Security	-	-	1 (1%)	-
Total	38	$2.3B	106	$8.3B

Sector

Current #

Value

All-time #

Value

Energy Services and Equipment

11 (29%)

33 (31%)

4.0B (48%)

Oil/Gas Exploration

10 (26%)

75M (3%)

26 (25%)

1.6B (19%)

Renewable Energy

2 (5%)

9 (8%)

Metals/Mining

1 (3%)

7 (7%)

69M (1%)

Marine

2 (5%)

4 (4%)

Business Services

3 (8%)

582M (26%)

3 (3%)

582M (7%)

Manufacturing

2 (5%)

558M (25%)

3 (3%)

558M (7%)

Utilities

1 (3%)

196M (9%)

3 (3%)

196M (2%)

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%)

Safety/Security

1 (1%)

Total

$2.3B

106

$8.3B

State/Country	Current #	Value	All-time #	Value
United States	26 (68%)	1.2B (52%)	69 (66%)	7.1B (86%)
	Texas	15 (39%)	985M (44%)	36 (34%)	2.4B (29%)
	Virginia	-	-	5 (5%)	-
	Connecticut	2 (5%)	-	4 (4%)	-
	Oklahoma	3 (8%)	-	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%)	-
	Massachusetts	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%)	-
	California	-	-	1 (1%)	-
Canada	3 (8%)	657M (29%)	7 (7%)	657M (8%)
	Alberta	3 (8%)	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%)	-
Germany	1 (3%)	-	1 (1%)	-
India	1 (3%)	-	1 (1%)	-
Brazil	1 (3%)	-	1 (1%)	-
Norway	1 (3%)	-	1 (1%)	-
Romania	1 (3%)	-	1 (1%)	-
South Africa	-	-	1 (1%)	69M (1%)
Bahamas	-	-	1 (1%)	-
Singapore	-	-	1 (1%)	-
Switzerland	-	-	1 (1%)	-
Total	38	$2.3B	105	$8.3B

State/Country

Current #

Value

All-time #

Value

United States

26 (68%)

1.2B (52%)

69 (66%)

7.1B (86%)

Texas

15 (39%)

985M (44%)

36 (34%)

2.4B (29%)

Virginia

5 (5%)

Connecticut

2 (5%)

4 (4%)

Oklahoma

3 (8%)

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%)

Massachusetts

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%)

California

1 (1%)

Canada

3 (8%)

657M (29%)

7 (7%)

657M (8%)

Alberta

3 (8%)

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%)

Germany

1 (3%)

1 (1%)

India

1 (3%)

1 (1%)

Brazil

1 (3%)

1 (1%)

Norway

1 (3%)

1 (1%)

Romania

1 (3%)

1 (1%)

South Africa

1 (1%)

69M (1%)

Bahamas

1 (1%)

Singapore

1 (1%)

Switzerland

1 (1%)

Total

$2.3B

105

$8.3B

Type	Current #	Value	All-time #	Value
Buyout (LBO, MBO, MBI)	17 (45%)	657M (29%)	62 (58%)	3.4B (42%)
Stake Purchase	3 (8%)	-	11 (10%)	-
Secondary Buyout	5 (13%)	-	10 (9%)	460M (6%)
Divestiture	6 (16%)	558M (25%)	9 (8%)	3.3B (40%)
Joint Venture	3 (8%)	-	6 (6%)	-
Growth Capital	2 (5%)	-	4 (4%)	-
Going Private	2 (5%)	1.0B (46%)	2 (2%)	1.0B (13%)
Consolidation	-	-	1 (1%)	-
PIPE	-	-	1 (1%)	-
Total	38	$2.3B	106	$8.3B

Type

Current #

Value

All-time #

Value

Buyout (LBO, MBO, MBI)

17 (45%)

657M (29%)

62 (58%)

3.4B (42%)

Stake Purchase

3 (8%)

11 (10%)

Secondary Buyout

5 (13%)

10 (9%)

460M (6%)

Divestiture

6 (16%)

558M (25%)

9 (8%)

3.3B (40%)

Joint Venture

3 (8%)

6 (6%)

Growth Capital

2 (5%)

4 (4%)

Going Private

2 (5%)

1.0B (46%)

2 (2%)

1.0B (13%)

Consolidation

1 (1%)

PIPE

1 (1%)

Total

$2.3B

106

$8.3B

Type	Total #	Value
Trade Sale - Public Company	13 (30%)	14.8B (90%)
IPO	12 (28%)	-
Trade Sale	9 (21%)	744M (5%)
Secondary Sale	6 (14%)	872M (5%)
Bankruptcy	1 (2%)	-
Sold to Management	1 (2%)	-
Stake Sale	1 (2%)	-
Total	43	$16.4B

Type

Total #

Value

Trade Sale - Public Company

13 (30%)

14.8B (90%)

IPO

12 (28%)

Trade Sale

9 (21%)

744M (5%)

Secondary Sale

6 (14%)

872M (5%)

Bankruptcy

1 (2%)

Sold to Management

1 (2%)

Stake Sale

1 (2%)

Total

$16.4B

Financial	Deals
Barclays Investment Bank	1
Lazard Ltd.	1
J.P. Morgan Securities LLC	1

Financial

Deals

Barclays Investment Bank

Lazard Ltd.

J.P. Morgan Securities LLC

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)	16%	7 (16%)
Strategic(s)	42%	18 (42%)

Deals

Acquired from

Investor(s)

9 (8%)

Strategic(s)

9 (8%)

Exited to

Investor(s)

7 (16%)

Strategic(s)

18 (42%)

First Reserve Management Mergers and Acquisitions Summary

Private Equity 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

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 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

Size

PE Assets

Established

Specialist/Generalist

Leadership

Alex Krueger

Edward Bialas

Gary Reaves

Jeffrey Quake

John Hill

Subscribe to unlock this and 161,439 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

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investor and company profiles