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.
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In the last 3 years, First Reserve has acquired 5 companies. It has also invested in 1 other.
First Reserve’s most common sectors for investment are energy services and equipment (34%) and oil/gas exploration (18%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (61%) and stake purchase (12%). In total, First Reserve has invested in 17 US states and 17 different countries. Its largest (disclosed) acquisition occurred in 2001 when it acquired Dresser for $1.6B.
In the last 3 years, First Reserve has exited 4 companies. The Firm’s most common exit type is trade sale (42%). First Reserve’s largest (disclosed) exit occurred in 2008 when it sold Quintana Maritime for $2.5B.
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