M&A Deal Summary

First Reserve Acquires Bahamas Oil Refining Company International

On April 1, 2008, private equity firm First Reserve acquired infrastructure company Bahamas Oil Refining Company International

Acquisition Highlights
  • This is First Reserve’s 1st transaction in the Infrastructure sector.
  • This is First Reserve’s 1st transaction in Bahamas.
Investment Fate
  • Bahamas Oil Refining Company International was sold to a publicly-traded strategic buyer in 2010 for 1.4B USD.

M&A Deal Summary

Date 2008-04-01
Target Bahamas Oil Refining Company International
Sector Infrastructure
Buyer(s) First Reserve
Deal Type Buyout (LBO, MBO, MBI)

Target

Bahamas Oil Refining Company International

Freeport, Bahamas
Bahamas Oil Refining Company International Limited is the largest storage terminal facility in the Caribbean, with the ability to store, blend, transship, and bunker fuel oil, crude oil and various petroleum products.

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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 50 of 112
Sector: Infrastructure M&A 1 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 34 of 62
Country: Bahamas M&A 1 of 1
Year: 2008 M&A 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-01 9Ren New Energies Group

Madrid, Spain

9Ren Group is a European solar energy company focused on the development, construction, and sale of solar photovoltaic plants and providing turn-key project management for third parties. 9Ren is also involved in the solar thermal business, focusing on the sale of energy and distribution of solar thermal collectors.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-07 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

Buy -