M&A Deal Summary

First Reserve Acquires Hoover Ferguson Group

On December 2, 2014, private equity firm First Reserve acquired oil/gas exploration company Hoover Ferguson Group from OFS Energy Fund

Acquisition Highlights
  • This is First Reserve’s 25th transaction in the Oil/Gas Exploration sector.
  • This is First Reserve’s 53rd transaction in the United States.
  • This is First Reserve’s 26th transaction in Texas.

M&A Deal Summary

Date 2014-12-02
Target Hoover Ferguson Group
Sector Oil/Gas Exploration
Buyer(s) First Reserve
Sellers(s) OFS Energy Fund
Deal Type Secondary Buyout

Target

Hoover Ferguson Group

Houston, Texas, United States
Hoover Ferguson Group is a provider of a container, workspace and packaging solutions for the energy, petrochemical and general industrial enterprises. Hoover Ferguson Group was founded in 1911 and is based in Houston, Texas.

Search 200,388 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

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 83 of 109
Sector (Oil/Gas Exploration) 25 of 29
Type (Secondary Buyout) 7 of 10
State (Texas) 26 of 38
Country (United States) 53 of 73
Year (2014) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-26 PetroFirst Infrastructure

PetroFirst Infrastructure Limited is an exclusively sourced partnership with Petrofac, one of the world’s leading energy services companies. The company owns two contracted floating production and storage facilities and one contracted mobile offshore production unit, all located offshore Southeast Asia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-23 Navigator Energy Services

Dallas, Texas, United States

Navigator Energy Services, LLC is a growth-oriented, independent midstream company focused on developing and delivering comprehensive midstream infrastructure solutions in response to the growing demand from America’s energy producers.

Buy $250M

Seller(S) 1

SELLER

OFS Energy Fund

Houston, Texas, United States

Investor


Category Private Equity Firm
Founded 2008
Size Small
Type Sector Focused
DESCRIPTION

OFS Energy Fund is a private equity fund focused on acquiring and growing lower middle market energy service companies. OFS seeks at least $15 million in companies generating revenue of $5 to $100 million and EBITDA of $1 to $20 million. OFS also looks to provide debt financing to private and public companies as well. The Firm will consider a variety of transaction situations, including buyouts, recapitalizations, growth capital financings, and special situations. OFS Energy is managed by Dorado Energy Partners LLC. The Firm was founded in 2008 and is based in Houston, Texas.


DEAL STATS #
Overall 3 of 12
Sector (Oil/Gas Exploration) 1 of 4
Type (Secondary Buyout) 1 of 2
State (Texas) 2 of 9
Country (United States) 3 of 12
Year (2014) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-30 Pro Oil & Gas Services

Houston, Texas, United States

Pro Oil & Gas Services LLC is an oilfield services company providing wireline, pumping services, flowback, frac stacks, wireline lubricators and pressure control, surface drilling, solids control, chemical mixing plants and torque and test services. Pro Oil & Gas Services was established in 2011 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-30 Allied Power Group

Houston, Texas, United States

Allied Power Group is an independent provider of aftermarket maintenance and repair solutions for heavy-frame IGTs, primarily serving the electric utility industry. APG’s fully-integrated offering includes engineered inspections and repairs, specialized coatings, precision manufacturing of replacement components, experienced field service professionals, multi-faceted rotor repair, and an expansive inventory of refurbished parts. Allied Power Group was founded in 2005 and is based in Houston, Texas.

Buy -