January 23, 2018 5:47 AM ET

Capital Markets

Company Overview of First Reserve Corporation

Company Overview

First Reserve Corporation is a private equity firm specializing in buyouts, growth capital, and industry consolidations in middle market companies. The firm seeks to invest growth equity through buy and build model. It also makes infrastructure investments. The firm seeks to invest in the energy and natural resource industry. Within private equity, the firm invests in resources, equipment and services, and midstream/downstream sectors. In resources, it invests in onshore/offshore, oil and natural gas exploration and production areas; in equipment and services, the firm focuses on drilling and production, manufacturing, transportation and maintenance, and support of energy industry activity t...

290 Harbor Drive

Stamford

Greenwich, CT 06902

United States

Founded in 1983

Phone:

203-661-6601

Fax:

203-661-6729

Key Executives for First Reserve Corporation

CEO, President & Co-Head of Buyout
Age: 43
MD & Vice Chairman
Age: 75
MD & COO
Age: 61
Managing Director
Age: 66
Compensation as of Fiscal Year 2017.

First Reserve Corporation Key Developments

Petroshale Seeks Acquisitions

PetroShale (US), Inc. is seeking acquisitions. Petroshale is raising $75 million (the "Financing") with First Reserve Corporation. PetroShale intends to use the net proceeds of the Financing to fund: (i) capital expenditures; (ii) the non-permanent repayment of its outstanding senior loan balance; (iii) the repayment and retirement of its outstanding subordinated loan; (iv) future potential acquisition opportunities; and (v) general corporate purposes.

First Reserve Promotes Four Senior Team Members

First Reserve announced the promotion of four senior investment professionals. Brooks Shughart was promoted to Managing Director. Since joining the firm in 2012, Brooks has made significant contributions to First Reserve's global Resources portfolio. He is based in the company’s Houston office. Edward T. Bialas was promoted to Managing Director. Since joining the firm in 2003, Ed has been a leading contributor to the company’s Equipment and Services and Midstream/Downstream portfolio, with key roles in the company’s investments in Power Well Services, Dresser-Rand, Diamond S Shipping, AFGlobal, Hoover Ferguson Group and Vista Proppants & Logistics. He is based in the company’s Houston office. Jesse Krynak was promoted to Director. Since joining the firm in 2010, Jesse has been a key member of the portfolio company teams responsible for several investments throughout First Reserve's core investment energy subsectors "Resources, Equipment & Services, and Midstream/Downstream. He is based in the company’s Houston office. David M. McFarland was promoted to Director. Since joining the firm in 2010, David has been a key member of the portfolio company teams responsible for several investments in the Midstream/Downstream and Equipment & Services sectors, including Crestwood Permian Basin Holdings LLC, KA First Reserve, Western Gas Partners, Plains All American, Phillips 66 Partners, and Saxon Energy Services (in partnership with Schlumberger). As a Director, David will continue to help drive diversified investments throughout the global energy value chain. He is based in the company’s Houston office.

First Reserve Announces Executive Appointments

First Reserve announced the completion of the next step in the firm's planned succession initiatives, with Alex T. Krueger becoming President & CEO of the business, effective July 1, 2017. William (Bill) E. Macaulay, who co-founded the firm with John A. Hill in 1983, will remain active in the business as its executive chairman and the chair of the private equity funds' investment committee. Mr. Krueger, who has an 18-year tenure with First Reserve, was named President & Co-CEO alongside Mr. Macaulay in 2015. Since that time, he has been at the helm of the firm's Private Equity business, as well as taken on direction of its backoffice and marketing functions. Having started at the company as an investment Associate, Mr. Krueger has been involved with several of the firm's investment successes and will continue to drive that core investment strategy going forward.

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