COSTA MESA, Calif., Jan. 3, 2008 (PRIME NEWSWIRE) -- Brand Energy & Infrastructure Services, Inc., a portfolio company of First Reserve Corporation, announced that it has acquired Protherm Services Group, LLC. The acquisition further strengthens Brand's position as one of the leading specialty service providers on the Gulf Coast. Transaction terms were not disclosed.
RSM EquiCo Capital Markets initiated the transaction, sourced the buyer, led the negotiations and acted as exclusive financial advisor to Protherm. Locke Liddell & Sapp and Pagel, Davis & Hill provided legal counsel to Protherm, while ENSR Corporation provided environmental advice.
"Brand's acquisition of Protherm is a strategic infrastructure development for the important Gulf Coast industrial marketplace. The Gulf Coast market is fragmented and its large integrated industrial complexes no longer want the managerial complications or security issues associated with being serviced by a wide variety of third-party specialty service providers, each offering a single or narrow service," said Paul Weisbrich, senior managing director, RSM EquiCo Capital Markets.
A team of RSM EquiCo Capital Markets professionals contributed to the successful close of this transaction. Weisbrich, together with vice president Brad Schreiber, led the deal team.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of the FINRA and SIPC. The firm's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
About Protherm Services Group, LLC
Protherm Services Group, LLC (www.psgwebzone.com), headquartered in Houston, Texas, is an experienced provider of multi-craft services to the construction and maintenance industries throughout the Gulf Coast. With over 70 years in operation, Protherm has developed an outstanding reputation for its commitment to quality and service. Protherm's service offerings include coatings, insulation, scaffolding, fireproofing and tank linings. Protherm's blue-chip customer base includes ExxonMobil, Shell, Dow Chemical, Marathon, Valero, CITGO, Conoco, DuPont and BP, most under evergreen contracts that continue to provide a large and growing base of recurring revenue.
About Brand Energy & Infrastructure Services, Inc.
Brand Energy & Infrastructure Services (www.brandscaffold.com), headquartered in Kennesaw, Ga., is a diversified provider of specialty services to North America's energy markets. Its extensive portfolio of service offerings includes scaffolding, industrial coatings, insulation, refractory, forming and shoring solutions, and other related soft crafts. Brand operates in five key energy sectors: refinery, petrochemical, oil sands, power generation and offshore oil and gas. The company also serves the commercial and infrastructure construction markets throughout North America and in strategic international regions.
About First Reserve Corporation
First Reserve Corporation (www.frcorp.com), headquartered in Greenwich, Conn., is the leading private equity firm specializing in the energy and energy infrastructure industry, with over $12.5 billion under management. Throughout its 25-year history, First Reserve has developed a strong franchise of investing exclusively in the energy industry, utilizing its broad base of specialized industry knowledge. First Reserve generally targets investments of $100 million to $500 million in global energy companies with enterprise values of $300 million to $4 billion. First Reserve invests in a broad range of segments within the energy industry, including energy manufacturing and services (such as drilling service providers and wellhead equipment manufacturers), energy infrastructure, and energy reserves.