First Reserve

Aug 05, 2024 FIRST RESERVE ANNOUNCES PROMOTION STAMFORD, Conn. and HOUSTON, Aug. 5, 2024 /PRNewswire/ -- First Reserve, a leading global private equity investment firm focused on investing across energy, utility, and general industrial end-markets, today announced the promotion of Rohit Agarwal to Vice President, effective June 30, 2024. Mr. Agarwal joined First Reserve in 2020 and serves as an important member of the firm's private equity investment team. He has made significant contributions to a number of investment funds and portfolio companies, including Refuel, USA DeBusk and Hoover Circular Solutions. Previously, he was part of the Energy & Power investment banking division at Piper Sandler, formerly known as Simmons Energy | A Division of Piper Sandler. Mr. Agarwal holds a B.B.A. and a Master's in Financial Management from Texas A&M University. The First Reserve Managing Partners commented, "As a firm, our success is underpinned by our approach to developing and empowering a homegrown, best-in-class team and culture that prioritizes partnership, collaboration and a deep understanding of the Evolving Energy Economy. Rohit exemplifies our approach to creating value for our investors and the businesses we partner with. He has been a valuable member of our investment team since joining First Reserve in 2020, and we congratulate him on this exciting milestone as he continues to take on a larger role within our firm." About First Reserve First Reserve is a leading global private equity firm investing across energy, utility, and industrial markets. Founded in 1983, First Reserve has more than 40 years of industry insight and has cultivated a differentiated network of relationships and portfolio exposure. Since inception, First Reserve has raised over $34 billion of aggregate capital and has developed operational expertise built from over 750 transactions, including platform investments and add-on acquisitions. Please visit www.firstreserve.com for further information. Contacts Erik Carlson / Madeline Jones Joele Frank, Wilkinson Brimmer Katcher 212.355.4449 FirstReserve-JF@joelefrank.com SOURCE First Reserve

Lamons is proud to announce a new partnership with AUGE Industrial! This partnership brings together two innovative forces and allows us to provide our customers with a broader range of exceptional solutions tailored to meet their critical bolting needs. Click here to learn more about how this exciting new partnership will transform the bolting industry with products and services that exceed expectations. 🔗: https://loom.ly/UmvpIyw #pressrelease #newpartnership #auge #learnmore #industry #news #energy #lamons

Intero Integrity partners with Rivean Capital to fuel its next phase of growth Intero Integrity is pleased to announce that Rivean Capital, a pioneer in European mid-market private equity, has entered into a definitive agreement to acquire the company from First Reserve. Since 1982, Rivean has been supporting ambitious management teams in achieving their plans. With offices in the Benelux, DACH regions, and Italy, Rivean is known for partnership, pragmatism, and performance. This collaboration will support Intero’s operational excellence, expand its global energy hub presence, and fast-track technology developments with key customers. Rivean’s expertise and Portfolio Enhancement Program are set to deliver exceptional value creation for Intero. Intero's dedication to becoming the preferred partner for the critical infrastructure sector requires ongoing investments in the organization and the advancement of its technology and capabilities. With Rivean's support, Intero aims to maintain its international growth momentum and accelerate its strategic initiatives, including the development of enhanced technologies, global expansion primarily in North America, and assisting clients in managing their emissions and complying with current regulations. Link to full press release: https://lnkd.in/d-wzdGyu

JUN 25, 2024 INTERO INTEGRITY SERVICES PARTNERS WITH RIVEAN CAPITAL TO FUEL ITS NEXT PHASE OF GROWTH Amsterdam and Tricht, The Netherlands – Intero Integrity Services (“Intero”) is pleased to announce that Rivean Capital, a pioneer in European mid-market private equity, has entered into a definitive agreement to acquire the company from First Reserve. Since 1982, Rivean has been supporting ambitious management teams in achieving their plans. With offices in the Benelux, DACH regions, and Italy, Rivean is known for partnership, pragmatism, and performance. This collaboration will support Intero’s operational excellence, expand its global energy hub presence, and fast-track technology developments with key customers. Rivean’s expertise and Portfolio Enhancement Program are set to deliver exceptional value creation for Intero. Intero’s dedication to becoming the preferred partner for the critical infrastructure sector requires ongoing investments in the organization and the advancement of its technology and capabilities. With Rivean’s support, Intero aims to maintain its international growth momentum and accelerate its strategic initiatives, including the development of enhanced technologies, global expansion primarily in North America, and assisting clients in managing their emissions and complying with current regulations. Rienk de Vries, CEO of Intero, said: “With the backing of our partners at Rivean, I am confident that Intero will accelerate growth, expand and diversify our service offerings, and become a vital partner helping drive success for our customers. We look forward to this exciting new phase for Intero, where we will continue to expand our unique blend of technological innovations, critical inspection, advanced environmental services, and industrial services. This will ensure safety, integrity, and enhanced performance of mission-critical infrastructure around the world. We would also like to thank First Reserve for their invaluable support over the course of our partnership.” Read the full story here: https://lnkd.in/gpqTGUy4

GridTek Utility Services Announces Sale from First Reserve MELBOURNE, FL – June 11, 2024 – GridTek Utility Services (“GridTek” or the “Company”), a leading provider of repair, maintenance, installation and upgrade services for electric transmission and distribution infrastructure, today announced that First Reserve has completed the sale of the Company. The financial terms of the transaction were not disclosed. GridTek is a premier provider of a comprehensive suite of services supporting the modernization and enhancement of the nation’s critical electric infrastructure, serving an extensive customer base of investor-owned utilities, electric cooperatives and municipalities. The Company has geographically diverse operations across the Southeast, mid-Atlantic, Northeast, Southwest and Pacific Northwest regions of the U.S. Since partnering with First Reserve in 2020, GridTek has significantly grown its operating footprint and service offerings and implemented best-in-class operating practices to prioritize safety and efficiency. Over the course of this period, the Company successfully completed four complementary acquisitions, expanding its geographic footprint and broadening the scope of its electric distribution service offering, while bolstering its position as a pre-eminent pure-play electric infrastructure services business. Rich Schwartz, Chief Executive Officer of GridTek, stated, “First Reserve has been an exceptional partner for GridTek over the last four years, bringing significant historical expertise across the utility services ecosystem which enabled us to grow our business into the leading electric services pure-play company in the sector. We continue to see immense growth opportunities, and we look forward to continuing to deliver safe and reliable services for our customers in this exciting next chapter.” Read the full story here: https://lnkd.in/g9ZnFHBU

IOG Resources

MAY 01, 2024 FIRST RESERVE COMPLETES THE SALE OF ITS INTEREST IN USA DEBUSK TO H.I.G. CAPITAL HOUSTON, May 1, 2024 /PRNewswire/ -- USA DeBusk LLC ("USA DeBusk" or the "Company"), a leading national provider of mission-critical industrial cleaning and infrastructure services, and First Reserve, a leading global private equity investment firm exclusively focused on investing across diversified energy, utility, and industrial end-markets, today announced that USA DeBusk and its management team have partnered with an affiliate of H.I.G. Capital. Financial terms of the transaction were not disclosed. Founded in 2012, USA DeBusk provides a comprehensive suite of industrial cleaning and infrastructure maintenance services to a diverse, blue-chip customer base across a broad range of end markets, including chemicals, renewable fuels, refining, and power generation. The Company first partnered with First Reserve in October 2019. USA DeBusk has since significantly expanded its geographic footprint, establishing 21 new branch locations, while broadening its specialty services offering. The Company has more than doubled its suite of service line offerings, including the introduction of emissions control solutions and other ESG-related services. "First Reserve's partnership, expertise and intimate knowledge of the industrial services end-markets played an essential role in supporting our significant organic growth over the last five years," said Andrew DeBusk, Chief Executive Officer of USA DeBusk. "As rising energy demand requires more output and increasingly dependable operations from critical infrastructure and the installation of newer, more sophisticated equipment, I am more confident than ever that the complementary, specialty cleaning and maintenance services we provide are uniquely suited to support our customers in this evolving landscape. We have great momentum across the business and are excited to continue executing on our strategy." Read the full story here: https://lnkd.in/gfCtKPW4

JAN 23, 2024 CHA CONSULTING ANNOUNCES SALE FROM FIRST RESERVE TO H.I.G. CAPITAL Transaction to Build on Company’s Strong Growth Strategy and Expand Industry-Leading Solutions Albany, NY – CHA Consulting, Inc. (CHA), an innovative, full-service engineering, design, consulting, and program management firm, today announced that it has been acquired by H.I.G. Capital (H.I.G.), a leading global alternative investment firm with $60 billion of capital under management, from First Reserve. Financial terms of the transaction were not disclosed. CHA provides a wide range of technology-enabled design, engineering, project management, and consulting services to public, private, and institutional clients spanning numerous end markets, including government, manufacturing, transportation, utility, water resources, commercial, and education. The transaction, which closed on January 19, 2024, will enable the company to further capitalize on opportunities to accelerate growth and deliver industry-leading solutions. In 2018, the company partnered with First Reserve, a leading global private equity investment firm. Since then, CHA has successfully executed its growth strategy, including more than doubling its employee base and revenues, while simultaneously growing earnings. During this period, CHA successfully acquired nine firms to significantly expand its geographic footprint in the Southeastern U.S., and scaled its transportation, water, program management, and advanced manufacturing services offerings. Going forward, CHA Consulting & Holdings President & CEO Jim Stephenson and the existing executive management team will continue to lead the company’s next phase of growth. Read the full story here: https://lnkd.in/e8K9BczV

FEB 20, 2024 FIRST RESERVE APPOINTS TODD TOMLIN AS MANAGING DIRECTOR AND CO-HEAD OF CAPITAL FORMATION Experienced Industry Executive and Investor to Support Investor Engagement and Capital Raising Efforts across Private Equity and Real Assets Strategies STAMFORD, Conn. and HOUSTON, Feb. 20, 2024 /PRNewswire/ -- First Reserve, a leading global private equity investment firm exclusively focused on investing across diversified energy, utility, and general industrial end-markets, today announced that Todd Tomlin has joined the firm as Managing Director. He will serve as Co-Head of Capital Formation alongside Ed Bialas, Managing Director and Co-Head of Capital Formation. In this role, he will help lead the firm's ongoing fundraising and investor engagement efforts across private equity and real assets strategies. He will also work closely with the First Reserve leadership team to develop and execute on its long-term capital formation strategy, expanding and enhancing the firm's institutional relationships and diversified investor base around the world. Read the full story here: https://lnkd.in/eZqXTdfk

JAN 08, 2024 FIRST RESERVE ANNOUNCES PROMOTION STAMFORD, Conn. and HOUSTON, Jan. 8, 2024 /PRNewswire/ — First Reserve, a leading global private equity investment firm exclusively focused on investing across diversified energy, utility, and general industrial end-markets, today announced the promotion of Thomas Amburgey to Managing Director, effective January 1, 2024. Having joined the firm in 2012, Thomas is a key member of the team responsible for investments in First Reserve’s private equity investment strategy. He has made significant contributions to a number of investment funds and portfolio companies, including Lamons, Hoover Circular Solutions, and the firm’s most recent platform investment, AP4 Group. As Managing Director, Thomas will continue to pursue and support private equity investments, with a focus on the sustainability of global energy and related industrial end-markets. Prior to joining First Reserve, Thomas worked as an analyst in the Financial Sponsors and Leveraged Finance division at UBS Investment Bank. He holds a B.B.A. and Master of Accountancy from the University of Georgia. Read the full story here: https://lnkd.in/e7XnWK6j