M&A Deal Summary

First Reserve Acquires Ascent Resources

On September 1, 2013, private equity firm First Reserve acquired oil/gas exploration company Ascent Resources

Acquisition Highlights
  • This is First Reserve’s 23rd transaction in the Oil/Gas Exploration sector.
  • This is First Reserve’s 48th transaction in the United States.
  • This is First Reserve’s 2nd transaction in Oklahoma.

M&A Deal Summary
Date 2013-09-01
Target Ascent Resources
Sector Oil/Gas Exploration
Buyer(s) First Reserve
Deal Type Buyout (LBO, MBO, MBI)

Target

Ascent Resources

Oklahoma City, Oklahoma, United States
Ascent Resources is an exploration and production company focused on the development of natural gas in the Appalachian region of the U.S. Ascent Resources was founded in 2013 and is based in Oklahoma City.

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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 77 of 109
Sector (Oil/Gas Exploration) 23 of 29
Type (Buyout (LBO, MBO, MBI)) 49 of 62
State (Oklahoma) 2 of 2
Country (United States) 48 of 73
Year (2013) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-30 GenPower

Newton, Massachusetts, United States

GenPower is a newly constructed 7 MW supercritical coal-fired power generating facility in West Virginia, and Mepco, a West Virginia-based coal mining operation.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-02 Kenersys Group

Munster, Germany

Kenersys is an integrated wind energy company focused on the design, assembly, and marketing of wind turbine generators. Kenersys is comprised of two wholly owned operating subsidiaries, a German subsidiary that focuses on turbine design and marketing in Europe and an Indian subsidiary, which focuses on turbine operations and marketing wind turbine generators in the Asia Pacific region

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