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First Reserve Completes Acquisition of Brand Energy & Infrastructure ServicesFebruary 8, 2007--First Reserve, the largest and oldest private equity firm that specializes in the energy industry, today announced that it has completed its acquisition of Brand Energy & Infrastructure Services (“Brand”) from J.P. Morgan Partners, LLC. Brand, based in Kennesaw, Georgia, is the largest North American provider of scaffolding work access services and also provides concrete forming and shoring and specialty craft labor services. The company primarily serves North American energy-related markets with customers in the refinery, oil sands, commercial, chemical, power and other industrial markets. Brand currently maintains a network of 93 independent field offices located throughout the United States, Canada, Mexico and other select international locations. Brand employs between 6,000 and 7,000 people, depending on seasonal needs. Paul Wood will remain President and Chief Executive Officer and the existing senior management team will continue to lead Brand following the transaction. “Brand is extremely well positioned for growth and will continue to build on its position as a global leader in the energy infrastructure sector,” said Timothy Day, Director at First Reserve. “It is an excellent strategic fit for First Reserve and we look forward to working with the current management team to continue to build Brand into one of the strongest energy and industrial service providers in the world.” About Brand Energy & Infrastructure Services: Brand Energy & Infrastructure Services is the largest North American provider of scaffolding services. The company provides industrial and commercial markets with turnkey work access solutions, including labor for the design, erection and dismantlement of scaffolding, rental of scaffolding equipment and sales of new and used scaffolding equipment. Its services in the industrial work access solutions market facilitate access to tall structures that require ongoing maintenance, periodic overhauls of existing structures and new construction, principally in the refining, petrochemical, chemical and energy industries. Its services in the commercial market primarily serve the non-residential building construction and renovation markets. Brand’s concrete construction business provides forming and shoring solutions to customers around the world. Brand also provides specialty craft services such as insulation, safety services and carpentry. For more information on Brand Energy and Infrastructure Services, visit www.brandscaffold.com About First Reserve First Reserve Corporation is the oldest and largest private equity firm specializing in the energy industry. Founded in 1983, First Reserve was the first private equity investment firm to actively pursue building a broadly diversified global investment portfolio of companies involved in the various sectors of the energy industry. Since 1992, First Reserve has raised over $12.7 billion for its buyout-focused funds. Throughout its 24-year history, the strong franchise that the firm has developed by investing exclusively in companies involved in the energy industry has served as a competitive advantage for First Reserve. For more information on First Reserve Corporation, visit www.firstreserve.com About JPMorgan Partners J.P. Morgan Partners, LLC is a private equity division of JPMorgan Chase & Co. (NYSE: JPM), one of the largest financial institutions in the United States. Since its inception in 1984, JPMP has invested over $15 billion worldwide in consumer, media, energy, industrial, financial services, healthcare, hardware and software companies. Selected investments include: AMC Entertainment, Cabela’s, Grupo Corporativo ONO, Hanley Wood, Harbor Point Re, PQ Corporation, Quiznos Sub, SafetyKleen Europe, Vetco International and Warner Chilcott. As of August 1, 2006, the investment professionals of JPMP formed entities independent of JPMorgan Chase. The buyout and growth equity professionals formed CCMP Capital Advisors, LLC, which focuses exclusively on buyout and growth equity investments primarily in five targeted industry sectors in the U.S. and Europe. The venture team formed Panorama Capital, LLC, and continues to focus on technology and life sciences investments. CCMP Capital and Panorama continue to manage the JPMP investments pursuant to a management agreement with JPMorgan Chase & Co. JPMP and CCMP Capital are registered investment advisers with the Securities and Exchange Commission. For media inquiries, please contact Caroline Harris of CJP Communications at 212-279-3115; ext. 222, or via email at caroline@cjpcom.com. SOURCE: First Reserve Corporation Back to Press Releases |
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The historical information presented may reflect the activities of the professionals of CCMP Capital Advisors, LLC (together with its affiliates, “CCMP Capital”) while they were members of J.P. Morgan Partners, LLC ("JPMP"), a private equity division of JPMorgan Chase & Co. prior to CCMP Capital's commencing operations. Nothing contained herein constitutes an offer to sell or a solicitation of an offer to purchase any investments or securities of any investment vehicles. © 2008 CCMP CAPITAL ADVISORS, LLC. All rights reserved. |
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