M&A Deal Summary

First Reserve Acquires Trillium

On February 25, 2019, private equity firm First Reserve acquired manufacturer Trillium from The Weir Group for 275M GBP

Acquisition Highlights
  • This is First Reserve’s 2nd transaction in the Manufacturing sector.
  • This is First Reserve’s 7th largest (disclosed) transaction.
  • This is First Reserve’s 6th transaction in the United Kingdom.

M&A Deal Summary
Date 2019-02-25
Target Trillium
Sector Manufacturing
Buyer(s) First Reserve
Sellers(s) The Weir Group
Deal Type Divestiture
Deal Value 275M GBP

Target

Trillium

Glasgow, United Kingdom
Trillium specialises in the design and manufacture of valves, pumps, and controls for the global power generation, downstream oil & gas and industrial sectors. Trillium is based in Glasgow, United Kingdom.

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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 104 of 109
Sector (Manufacturing) 2 of 3
Type (Divestiture) 8 of 9
Country (United Kingdom) 6 of 6
Year (2019) 3 of 5
Size (of disclosed) 7 of 13
PREVIOUS 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 -
FOLLOWING 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 -

Seller(S) 1

SELLER

The Weir Group

Glasgow, United Kingdom
Category Company
Founded 1871
Sector Engineering
Employees12,391
Revenue 2.6B GBP (2023)
DESCRIPTION

The Weir Group is a global engineering solution provider, we focus on designing, manufacturing and supplying innovative products and expert engineering services for the minerals, oil & gas, and power & industrial markets. The Weir Group was founded in 1871 and is based in Glasgow, United Kingdom.

DEAL STATS #
Overall 4 of 5
Sector (Manufacturing) 1 of 1
Type (Divestiture) 4 of 5
Country (United Kingdom) 3 of 3
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-19 ESCO

Portland, Oregon, United States

ESCO Corp. is an independent developer and manufacturer of highly engineered wear parts and replacement products used in mining, infrastructure development, oil and gas, and industrial applications. We have focused on product innovation throughout our 100-year history. Our expertise in metallurgy, tribology (the science of wear), design engineering, manufacturing processes, and distribution are our core competencies.

Buy $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-05 Weir Oil & Gas

Fort Worth, Texas, United States

Weir Oil & Gas provides pressure pumping, pressure control, and aftermarket services to upstream oil and gas customers in North America and internationally.

Sell $405M
Mergr

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