M&A Deal Summary

First Reserve Acquires IRISNDT Inspection & Engineering Services

On May 9, 2019, private equity firm First Reserve acquired engineering company IRISNDT Inspection & Engineering Services

Acquisition Highlights
  • This is First Reserve’s 2nd transaction in the Engineering sector.
  • This is First Reserve’s 7th transaction in Canada.
  • This is First Reserve’s 5th transaction in Alberta.
Investment Fate
  • IRISNDT Inspection & Engineering Services was sold to a strategic buyer in 2024.

M&A Deal Summary
Date 2019-05-09
Target IRISNDT Inspection & Engineering Services
Sector Engineering
Buyer(s) First Reserve
Deal Type Buyout (LBO, MBO, MBI)

Target

IRISNDT Inspection & Engineering Services

Edmonton, Alberta, Canada
IRISNDT Inspection & Engineering Services provides advanced and general non-destructive testing (NDT), inspection, engineering, heat treatment, rope access, and specialized software solutions to the refining, petrochemical, chemical, power generation, pipeline, and industrial markets. IRISNDT Inspection & Engineering Services was founded in 1953 and is based in Edmonton, Alberta.

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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 105 of 109
Sector (Engineering) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 61 of 62
State (Alberta) 5 of 5
Country (Canada) 7 of 7
Year (2019) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-06 Midstates Petroleum

Houston, Texas, United States

Midstates Petroleum is an independent exploration and production company focused on the application of modern drilling and completion techniques in oil- and liquids-rich basins in the onshore U.S. Midstates’ operations are currently focused on oilfields in the Mississippian Lime play in Oklahoma.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-04 Lamons

Houston, Texas, United States

Lamons designs, manufactures and distributes industrial sealing and fastener products, for the petrochemical, petroleum refining, oil field, and other industrial markets. Lamons provides industrial sealing fastener products to both maintenance repair operations and industrial original equipment manufacturers. Lamons was founded in 1947 and is based in Houston, Texas.

Buy $135M
Mergr

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