First Reserve

First Reserve Corporation is a private equity investment firm that specializes in the energy sector. With 40 years of experience, the firm has developed extensive market knowledge and operational expertise, establishing a robust global network. Since its inception, First Reserve has raised over $32 billion in total capital, demonstrating its significant presence and influence within the energy investment landscape. The firm is dedicated solely to energy investments, encompassing both private equity and infrastructure opportunities.

Eduard Ruijs

Managing Director

Paul Steen

Director

32 past transactions

Venterra

Venture Round in 2023
Venterra is a company established in 2021 and located in Sheffield, United Kingdom, specializing in the engineering, construction, and operational support of offshore wind energy developments globally. The company offers comprehensive project management and engineering services that span the entire lifecycle of offshore wind farms, from initial concept design to decommissioning. Venterra's capabilities include conducting environmental and geotechnical analyses, as well as hydrographic surveys. By acquiring early-stage wind energy operators and leveraging streamlined systems and technology, Venterra aims to facilitate the energy transition to wind power while advancing its own net zero strategy.

Phillips 66

Post in 2022
Phillips 66 is an energy manufacturing and logistics company that operates across various sectors, including refining, midstream, and chemicals. It is recognized as an integrated downstream company, uniquely combining refining, marketing, and specialty products with significant midstream operations. The company operates 12 refineries with a total crude throughput capacity of 1.8 million barrels per day, and it has transitioned its Rodeo, California facility to produce renewable diesel. Its midstream segment features an extensive transportation network, including a substantial interest in DCP Midstream, which is a leading producer of natural gas liquids and has a vast pipeline system. Additionally, Phillips 66's chemical joint venture, CPChem, operates facilities in the United States and the Middle East, focusing on the production of olefins and polyolefins. This diverse portfolio positions Phillips 66 to effectively navigate the evolving energy landscape and capture emerging opportunities.

The Goldfield Corporation

Acquisition in 2020
Goldfield is provider of electrical construction services engaged in the construction of electrical infrastructure for the utility industry

Lamons

Acquisition in 2019
Lamons is an oil and energy company focused on manufacturing industrial sealing solutions for the petroleum refining, petrochemical, and oil field sectors. The company provides a range of products including gaskets, fasteners, hose assemblies, and specialty bolts. These items are designed for mission-critical applications and are available for immediate delivery, ensuring that clients can access essential equipment promptly. Lamons is dedicated to serving the needs of its industrial market, delivering high-quality components that meet rigorous standards.

IRISNDT

Acquisition in 2019
IRISNDT Corp. specializes in nondestructive testing (NDT) and materials engineering services, catering primarily to the oil and gas, petrochemical, chemical, power generation, and pipeline industries. Founded in 1953 and headquartered in Edmonton, Canada, the company offers a comprehensive range of NDT technologies, including automated ultrasonics and pipeline integrity solutions. Its services encompass inspection of fabricated structures, maintenance and emergency support for chemical processing and petrochemical plants, and specialized inspections for the power generation sector. Additionally, IRISNDT provides various pipeline services such as radiographic inspection and assessments for stress corrosion cracking, corrosion, and manufacturing defects. The company operates across multiple locations in Canada and the United States, delivering solutions that enhance operational efficiency, reduce unplanned downtime, and improve safety in industrial operations.

Weir Flow Control

Acquisition in 2019
Weir Flow Control ("WFC") is a designer, manufacturer and aftermarket services provider of engineered valves and pumps used in energy and broader industrial applications. WFC consists of global brands in niche applications supporting safe, reliable and efficient energy and industrial processes worldwide.

Blue Racer Midstream

Acquisition in 2018
Blue Racer Midstream develops and delivers midstream infrastructure and services. It offers natural gas gathering, compression, treating, processing, and transportation; condensate handling; and the fractionation, storage, transportation, and marketing of natural gas liquids.

Dresser Natural Gas Solutions

Acquisition in 2018
Dresser Natural Gas Solutions is a leading provider of measurement, instrumentation, and piping solutions to the natural gas distribution.

Lucero Energy

Post in 2018
Lucero Energy is an independent oil company that specializes in the acquisition, development, and production of oil-weighted assets in the Bakken and Three Forks formations located in the Williston Basin of North Dakota. The company is actively involved in consolidating interests in these regions, aiming to enhance its operational efficiency and resource extraction capabilities.

CHA Consulting

Acquisition in 2018
CHA Consulting is a highly diversified, full-service engineering and construction management firm providing a wide range of planning and design services to public, private and institutional clients. With technical personnel and offices throughout the United States and Canada, CHA offers engineering, architectural, survey, construction, and other services necessary to complete projects on time and within budget.

Lucero Energy

Post in 2018
Lucero Energy is an independent oil company that specializes in the acquisition, development, and production of oil-weighted assets in the Bakken and Three Forks formations located in the Williston Basin of North Dakota. The company is actively involved in consolidating interests in these regions, aiming to enhance its operational efficiency and resource extraction capabilities.

EMS USA - The Integrity Maintenance Platform

Acquisition in 2017
EMS USA is an integrated solution provider for all pipeline and facility maintenance, integrity, measurement and automation services.

AFGlobal Corp

Private Equity Round in 2017
AFGlobal Corporation is an oil and energy company specializing in subsea pipeline components and forged products. Their Corporation is a technology and manufacturing specialist working to enhance their clients' success around the world. They align well-established precision engineering with evolutionary innovation. Their unique approach combines conventional OEM processes and technology with unconventional thinking, providing reliable answers and establishing quicker ways to find the best solutions for their clients.

Texas American Resources

Venture Round in 2016
Texas American Resources Company is a privately held independent oil and gas exploration firm based in Austin, Texas. Founded in 1990 by David E. Honeycutt, the company manages and operates over 90,000 acres in South Texas and the Texas Panhandle, focusing on the Eagle Ford and Austin Chalk formations. With a strategic emphasis on building an oil-focused portfolio, Texas American Resources engages in technology-driven organic development and strategic acquisitions, having overseen transactions exceeding $500 million in its 25 years of operation. The company's multi-disciplined team, which includes specialists in geology, engineering, finance, and land management, employs a subsurface-driven approach to enhance hydrocarbon recovery, prioritizing both efficiency and responsible practices.

Applied-Cleveland

Acquisition in 2016
Applied-Cleveland Holdings, Inc. provides third party inspection services for the maintenance of oil and natural gas transmission, distribution, midstream and gathering lines, and other critical infrastructure. Other infrastructure includes refinery, power plant, compressor and pump stations, and mechanical integrity projects. A-C also offers complementary, specialized nondestructive and qualification services across the entire spectrum of the industry.

Morrison Utility Services

Acquisition in 2016
Morrison Utility Services (“MUS” or “the company”), the leading provider of utility infrastructure services in the United Kingdom.

Plains All American Pipeline

Post in 2016
Plains All American Pipeline is engaged in the transportation, storage, terminalling and marketing of crude oil, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids ("NGL"). We own and operate a diversified portfolio of strategically located assets that play a vital role in the movement of U.S. and Canadian energy supplies. On average we handle over 3.5 million barrels per day of crude oil and NGL through our extensive network of assets located in key North American producing basins, major market hubs and transportation gateways. The company is headquartered in Houston.

Hoover Ferguson

Private Equity Round in 2014
Hoover Ferguson Group, Inc. specializes in providing a wide range of intermediate bulk containers (IBCs), tote tanks, offshore containers, and intermodal tank containers, primarily for the storage and transportation of chemicals and liquids. The company also offers specialized equipment such as offshore half-height baskets, mud skips, and compactors, as well as technology services that include asset tracking and tank level monitoring. With a strong focus on durability and quality, Hoover Ferguson serves multiple industries, including oil and gas, petrochemical, food and beverage, and pharmaceuticals. Founded in 1911 and headquartered in Houston, Texas, the company has expanded its reach globally, with operations in locations such as Australia, Brazil, Europe, Asia, the United Arab Emirates, and the United States, and a chemical repackaging facility in Aberdeen, Scotland. Through its rich legacy of over a century in manufacturing, Hoover Ferguson continues to deliver reliable solutions and services tailored to the needs of diverse sectors.

TNT Crane & Rigging

Acquisition in 2013
TNT Crane & Rigging, Inc. is a provider of crane services and specialized lifting solutions, offering a range of equipment including hydraulic truck cranes, gantry jacks, forklifts, and trailers. Founded in 1985 and headquartered in Houston, Texas, the company serves various sectors, including oil and gas, refining, petrochemical, power, commercial, construction, and industrial markets across the United States. TNT Crane & Rigging is equipped to handle complex projects, including wind farm construction and maintenance, as well as the erection, fabrication, and installation of commercial machinery. The company filed for reorganization under Chapter 11 in August 2020, seeking to restructure its operations.

Ascent Resources

Venture Round in 2013
Ascent Resources is an oil and gas exploration and production company that specializes in acquiring, developing, and producing natural gas and oil in the Appalachian Basin. The company holds approximately 300,000 net acres of land in this region, which is known for its significant potential for shale oil, liquids, and natural gas. Ascent Resources is committed to providing equal employment opportunities to all individuals, ensuring a diverse and inclusive workplace.

TPC Group

Acquisition in 2012
TPC Group Inc. is a chemicals manufacturer that specializes in producing value-added products derived from petrochemical raw materials, primarily focusing on C4 hydrocarbons. The company operates in two main segments: C4 Processing and Performance Products. The C4 Processing segment offers butadiene for synthetic rubber production, butene-1 for plastic resins, and other derivatives critical for gasoline blending and alkylate manufacturing. In the Performance Products segment, TPC Group provides high purity isobutylene for synthetic rubber and lubricant additives, along with polyisobutylenes used in various applications including adhesives and sealants. Additionally, the company offers diisobutylene, nonene, and tetramer for the production of surfactants and plasticizers. Founded in 1943 and headquartered in Houston, Texas, TPC Group has evolved from its original name, Texas Petrochemicals Inc., which it changed in 2010. The company also plays a crucial role in providing infrastructure and logistics services along the Gulf Coast, supporting its extensive operations in the chemical and petroleum sectors.

Amromco Energy

Private Equity Round in 2011
Amromco Energy LLC is a privately-held independent exploration and production company based in Houston, Texas with offices in New York, Bucharest and Ploiesti, Romania. The company's core business is the enhancement of existing oil and gas fields in emerging markets such as Romania. Amromco is the first private company to produce hydrocarbons in Romania in the past fifty years with first gas production established June, 2003. The company is the Operator of enhancement activities for twenty-eight gas fields in Romania and is actively pursuing other opportunities in Romania and other countries in Central and South East Europe.

Barra Energia Petroleo e Gas

Venture Round in 2011
Barra Energia Petroleo e Gas is an oil exploration and production company based in Rio de Janeiro, Brazil, focusing on offshore basins. It specializes in leveraging technical and commercial expertise, along with local knowledge, to identify, develop, and produce hydrocarbon resources. As one of the pioneering independent Brazilian firms to invest in pre-salt assets, Barra Energia holds a stake in a post-salt producing field in the Santos Basin, along with interests in other petroleum basins such as Campos and Espírito Santo. The company’s operations reflect a commitment to harnessing Brazil's rich oil resources in a rapidly evolving energy market.

Acteon Group

Acquisition in 2006
Acteon Group Limited provides specialist subsea services for the oil and gas industry in the United Kingdom and internationally. The company provides survey, monitoring, and data services, such as high precision subsea measurement and management of assets and the asset environment; riser and mooring services, including design, supply, installation, relocation, and decommissioning; and machinery rental services.

Quanta Services

Post in 2002
Quanta Services, Inc. is a prominent provider of specialty contracting services, focusing on comprehensive infrastructure solutions for the electric power, oil and natural gas, and communications industries across the United States, Canada, Australia, and Latin America. The company operates through several segments, including Electric Power Infrastructure Services, which encompasses the design, installation, maintenance, and repair of electric power transmission and distribution systems, as well as substation facilities and smart grid technologies. Additionally, Quanta's Pipeline and Industrial Infrastructure Services segment offers services related to pipeline transmission and distribution systems, including installation, repair, and maintenance, along with trenching and mechanized welding. The company also engages in emergency restoration services for infrastructure affected by adverse weather conditions, and it plays a role in renewable energy projects, such as solar and wind generation facilities. Founded in 1997 and headquartered in Houston, Texas, Quanta Services serves a diverse clientele, including electric power, energy, and communications companies, as well as commercial and governmental entities.

Quanta Services

Post in 2002
Quanta Services, Inc. is a prominent provider of specialty contracting services, focusing on comprehensive infrastructure solutions for the electric power, oil and natural gas, and communications industries across the United States, Canada, Australia, and Latin America. The company operates through several segments, including Electric Power Infrastructure Services, which encompasses the design, installation, maintenance, and repair of electric power transmission and distribution systems, as well as substation facilities and smart grid technologies. Additionally, Quanta's Pipeline and Industrial Infrastructure Services segment offers services related to pipeline transmission and distribution systems, including installation, repair, and maintenance, along with trenching and mechanized welding. The company also engages in emergency restoration services for infrastructure affected by adverse weather conditions, and it plays a role in renewable energy projects, such as solar and wind generation facilities. Founded in 1997 and headquartered in Houston, Texas, Quanta Services serves a diverse clientele, including electric power, energy, and communications companies, as well as commercial and governmental entities.

CiDRA

Venture Round in 2000
CiDRA Holdings LLC, founded in 1996 and headquartered in Wallingford, Connecticut, develops innovative instrumentation solutions for measurement, monitoring, and control across various industries. The company specializes in flow and entrained air measurement, grind management, and process optimization, utilizing its patented SONARtrac® flow technology, which is particularly effective in challenging slurry applications within the energy and natural resource sectors. CiDRA's products and services cater to industries such as minerals processing, oil sands, concrete, power generation, dredging, and water/wastewater, helping over 250 customers in 21 countries to enhance process efficiency, maximize recovery, and reduce operational costs. By converting data into actionable insights, CiDRA supports businesses in achieving their performance goals and optimizing industrial operations.
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