M&A Deal Summary

First Reserve Acquires LineStar

On January 16, 2019, private equity firm First Reserve acquired construction company LineStar

Acquisition Highlights
  • This is First Reserve’s 2nd transaction in the Construction sector.
  • This is First Reserve’s 68th transaction in the United States.
  • This is First Reserve’s 37th transaction in Texas.

M&A Deal Summary
Date 2019-01-16
Target LineStar
Sector Construction
Buyer(s) First Reserve
Deal Type Buyout (LBO, MBO, MBI)

Target

LineStar

Pasadena, Texas, United States
LineStar provides a comprehensive suite of solutions which includes integrity maintenance, corrosion, and cathodic protection, coatings, GIS, control room operations, measurement and automation, and O&M compliance throughout the midstream value chain. LineStar was founded in 2018 and is based in Pasadena, 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 102 of 109
Sector (Construction) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 59 of 62
State (Texas) 37 of 38
Country (United States) 68 of 73
Year (2019) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-02 Dixie Electric

Midland, Texas, United States

Dixie Electric is a provider of electrical materials and services to energy companies in the Permian, Williston and Marcellus basins. The company specializes in oil field electrical construction and maintenance. Dixie Electric was founded in 1951 and is based in Midland, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-22 Refuel

North Charleston, South Carolina, United States

Refuel is a retail fuel distribution and convenience store sector. Refuel was founded in 2008 and is based in North Charleston, South Carolina.

Buy -
Mergr

Product

Company

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