Brand Energy and Infrastructure Services Acquired from First Reserve by Clayton, Dubilier & Rice

   Brand Energy and Infrastructure Services Acquired from First Reserve by
                           Clayton, Dubilier & Rice

PR Newswire

KENNESAW, Ga. and GREENWICH, Conn., Sept. 16, 2013

KENNESAW, Ga. andGREENWICH, Conn., Sept. 16, 2013 /PRNewswire/ --Brand
Energy & Infrastructure Services ("Brand"), a leading provider of specialty
industrial services to North America's energy markets, today announced that
majority shareholder First Reserve has signed definitive agreements to sell
the company to Clayton, Dubilier & Rice ("CD&R") for an undisclosed amount.
First Reserve is the largest global private equity firm exclusively focused on
energy. The transaction is subject to certain regulatory approvals and is
expected to close before the end of this year.

CD&R has separately agreed to acquire the Infrastructure division of Harsco
Corporation ("Harsco Infrastructure") and intends to merge Brand and Harsco
Infrastructure creating a leading, single-source provider of specialized
industrial services to the worldwide energy and infrastructure sectors. The
combined company will be named Brand Energy & Infrastructure Services and Paul
Wood will remain Chairman and Chief Executive Officer of the Company.

Paul Wood, Chairman and Chief Executive Officer of Brand said, "Since
partnering with First Reserve in 2007, we have transformed Brand into the
leading North American specialty industrial services provider. The
integration with Harsco Infrastructure directly aligns with our company's
strategy to expand our specialty service offering and geographic reach. The
combination of these two groups of strong local operating companies and
management teams creates a true global leader in both specialized industrial
services and forming & shoring. The resulting global footprint will enable us
to offer best in class operating capabilities to our customers in the growing
energy and infrastructure markets, and we look forward to working with CD&R
and Harsco."

Tim Day, Managing Director and Co-Head of Buyout of First Reserve said, "Since
originally acquiring the business in 2007, we have seen strong growth for
Brand as Paul Wood and his team have executed on the successful strategy of
building a leading specialty industrial services provider. During our
ownership, Brand has capitalized on the benefits of increased spending on
energy infrastructure across North America and is well positioned to continue
growing. We have supported the Brand team with follow-on equity investments
that facilitated ten add-on acquisitions that added incremental complementary
services and an expanded geographic footprint. It has been an honor and a
privilege to work alongside Paul Wood and the management team at Brand and we
wish them the best for the future." 

Morgan Stanley acted as financial advisor to Brand and First Reserve. Simpson
Thacher acted as legal advisor.

About Brand Energy

Brand Energy and Infrastructure Services is a leading provider of specialty
services to North America's energy markets. Its extensive portfolio of
specialized industrial service offerings include scaffolding, coatings,
insulation, refractory, forming & shoring, cathodic protection, mechanical
services and other related crafts. The company also serves the infrastructure
and commercial markets throughout North America and in strategic international
regions. Brand operates in five key market segments: Upstream/ Midstream,
Downstream, Power Generation, Industrial and Infrastructure. For additional
information, visit

About First Reserve

First Reserve is the largest global private equity firm exclusively focused on
energy. With 30 years of industry insight, investment expertise and
operational excellence, the Firm has cultivated an enduring network of global
relationships and raised more than USD $23 billion of aggregate capital since
inception. Putting these to work, First Reserve has completed more than 450
transactions (including platform investments and add-on acquisitions) on six
continents. Its portfolio companies operate in approximately 50 countries and
span the energy spectrum from upstream oil and gas to midstream and
downstream, including resources, equipment and services and infrastructure.
First Reserve has offices in Greenwich, CT; Houston; London and Hong Kong.
Visit us at for more information.

About CD&R

Founded in 1978, Clayton, Dubilier & Rice is a private investment firm. Since
its inception, CD&R has invested in 56 U.S. and European businesses with an
aggregate transaction value of approximately $90 billion. CD&R's industrial
investments in recent years include: Wilsonart, the former Decorative Surfaces
division of ITW; Hussmann International, formerly a division of Ingersoll
Rand; and Atkore International, formerly Tyco International's Electrical and
Metal Products business. For more information, please visit

Olivia Offner
Prosek Partners
(212) 279-3115 ext 233

SOURCE First Reserve

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