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M&A Deal Summary

First Reserve Acquires Eagle Infrastructure Services

On September 12, 2016, private equity firm First Reserve acquired energy services and equipment company Eagle Infrastructure Services from Nautic Partners and Triangle Capital

Acquisition Highlights
  • This is First Reserve’s 28th transaction in the Energy Services and Equipment sector.
  • This is First Reserve’s 58th transaction in the United States.
  • This is First Reserve’s 29th transaction in Texas.

M&A Deal Summary
Date 2016-09-12
Target Eagle Infrastructure Services
Sector Energy Services and Equipment
Buyer(s) First Reserve
Sellers(s) Nautic Partners
Triangle Capital
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)

Target

Eagle Infrastructure Services

Houston, Texas, United States
Eagle Infrastructure Services provides third-party inspection services for the maintenance of oil and natural gas transmission, distribution, midstream and gathering lines, and other critical infrastructure. Other infrastructure includes refinery, power plant, compressor and pump stations, and mechanical integrity projects. A-C also offers complementary, specialized nondestructive and qualification services across the entire spectrum of the industry. Eagle Infrastructure Services was founded in 1991 and is based in Houston, Texas.

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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 90 of 112
Sector: Energy Services and Equipment M&A 28 of 34
Type: Secondary Buyout M&A Deals 9 of 11
State: Texas M&A 29 of 38
Country: United States M&A 58 of 75
Year: 2016 M&A 5 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-21 M Group Services

Stevenage, United Kingdom

M Group Services is a service provider to the regulated infrastructure markets in the UK and Ireland through its utilities, transport, telecom, and data divisions. The Company operates through its subsidiaries that include Morrison Utility Services, Morrison Data Services, Dyer & Butler, Magdalene, PMP Utilities and M Group Services Plant & Fleet Solutions. M Group Services was formed in 1847 and is based in Hertfordshire, England.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-01 Tri-Point

Houston, Texas, United States

Tri-Point is a manufacturer of custom production vessels and skids for the oil and gas industry. Tri-Point is based in Houston, Texas.

Buy -

Seller(S) 2

SELLER

Nautic Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1986
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Nautic Partners is a private equity firm focused on middle-market company investments based in the US. Nautic looks to invest $50 to $400 million of equity in businesses valued between $100 million and $1 billion. Nautic's industry focus is business services, manufacturing, healthcare, and communications. Prospective investment structures include buyouts, recapitalizations, consolidations, and growth financings. Nautic prefers majority investment positions. Nautic Partners was formed in 1986 and is based in Providence, Rhode Island.

DEAL STATS #
Overall 35 of 47
Sector: Energy Services and Equipment M&A 1 of 1
Type: Secondary Buyout M&A Deals 13 of 20
State: Texas M&A 3 of 3
Country: United States M&A 35 of 46
Year: 2016 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-22 Venturi Restoration

Schaumburg, Illinois, United States

Venturi Restoration is a property reconstruction and renovation industries serving thousands of residential, commercial and multi-family customers from United States. Venturi Restoration was founded in1997 and is based in Schaumburg, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-13 Vantage Mobility International

Phoenix, Arizona, United States

Vantage Mobility International is a designer, manufacturer, distributor and marketer of vehicle accessibility products, including van conversions, stowage lifts and accessories for wheelchair and scooter users. Vantage Mobility International was founded in 1987 and is based in Phoenix, Arizona.

Buy -
SELLER

Triangle Capital

Raleigh, North Carolina, United States
Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 38 of 72
Sector: Energy Services and Equipment M&A 1 of 3
Type: Secondary Buyout M&A Deals 13 of 27
State: Texas M&A 4 of 5
Country: United States M&A 38 of 71
Year: 2016 M&A 10 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-11 On Event Services

Norcross, Georgia, United States

On Event Services LLC is specializes in corporate events and exhibitions, supporting more than 1,000 live events annually with production services, including audio, video, lighting, mapping and scenic design.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-28 Great Expressions Dental Centers

Southfield, Michigan, United States

Great Expressions Dental Centers is a branded dental practice network that provides comprehensive affordable dental services distinguished by convenience, value, and a broad acceptance of insurance plans. Great Expressions Dental Centers was founded in 1982 and is based in Southfield, Michigan.

Sell -
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