M&A Deal Summary

First Reserve Acquires AP4 Group

On December 19, 2023, private equity firm First Reserve acquired energy services and equipment company AP4 Group

Acquisition Highlights
  • This is First Reserve’s 33rd transaction in the Energy Services and Equipment sector.
  • This is First Reserve’s 73rd transaction in the United States.
  • This is First Reserve’s 3rd transaction in Florida.

M&A Deal Summary
Date 2023-12-19
Target AP4 Group
Sector Energy Services and Equipment
Buyer(s) First Reserve
Deal Type Buyout (LBO, MBO, MBI)

Target

AP4 Group

Lakeland, Florida, United States
AP4 Group is a provider of critical aftermarket maintenance services, repair, and parts solutions for industrial gas & steam turbines. Serving a diverse base of customers around the world, the company operates in a growing market for gas & steam turbine maintenance, providing a range of core offerings that include power plant field services, parts, accessories repairs and parts refurbishment with specific expertise in controls, electrical, excitation equipment, mechanical field services, commissioning and turnkey gas & steam turbine outage support. AP4 Group was formed in 1990 and is based in Lakeland, Florida.

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Buyer(S) 1

Buyer

First Reserve

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 32.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

First Reserve 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 is based in Stamford, Connecticut.

DEAL STATS #
Overall 109 of 109
Sector (Energy Services and Equipment) 33 of 33
Type (Buyout (LBO, MBO, MBI)) 62 of 62
State (Florida) 3 of 3
Country (United States) 73 of 73
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-04 Palmdale

Fort Pierce, Florida, United States

Palmdale is a statewide provider of fuels, lubricants, and chemicals with delivery and management solutions. The company currently operates in more than 50 counties across Florida and provides a wide range of tailored commercial fuel and lubricant solutions to customers in the agricultural, industrial, construction, marine, and government sectors. Palmdale operates from 15 locations statewide and maintains a fleet of over 200 specialized vehicles including tankwagons, tractors, trailers, and box trucks. Its product suite includes traditional gasoline, diesel, biodiesel, commercial and industrial lubricants, and chemicals that are used across a diverse set of end markets. Palmdale was founded in 1984 and is based in Fort Pierce, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-23 CHA

Albany, New York, United States

CHA is a diversified, full-service engineering consulting firm providing a wide range of technology-enhanced planning and design services to public, private and institutional clients. CHA was ranked the 36th largest design firm in the United States in 2017 by Engineering News Record and has annual revenue of $290 million. With technical personnel and offices throughout the United States and Canada, CHA offers engineering, architectural, survey, construction, and other services necessary to complete projects on time and within budget. CHA was founded in 1955 and is based in Albany, New York.

Sell -
Mergr

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