May 01, 2024
FIRST RESERVE COMPLETES THE SALE OF ITS INTEREST IN USA DEBUSK TO H.I.G. CAPITAL
HOUSTON, May 1, 2024 /PRNewswire/ -- USA DeBusk LLC ("USA DeBusk" or the "Company"), a leading national provider of mission-critical industrial cleaning and infrastructure services, and First Reserve, a leading global private equity investment firm exclusively focused on investing across diversified energy, utility, and industrial end-markets, today announced that USA DeBusk and its management team have partnered with an affiliate of H.I.G. Capital. Financial terms of the transaction were not disclosed.
Founded in 2012, USA DeBusk provides a comprehensive suite of industrial cleaning and infrastructure maintenance services to a diverse, blue-chip customer base across a broad range of end markets, including chemicals, renewable fuels, refining, and power generation.
The Company first partnered with First Reserve in October 2019. USA DeBusk has since significantly expanded its geographic footprint, establishing 21 new branch locations, while broadening its specialty services offering. The Company has more than doubled its suite of service line offerings, including the introduction of emissions control solutions and other ESG-related services.
"First Reserve's partnership, expertise and intimate knowledge of the industrial services end-markets played an essential role in supporting our significant organic growth over the last five years," said Andrew DeBusk, Chief Executive Officer of USA DeBusk. "As rising energy demand requires more output and increasingly dependable operations from critical infrastructure and the installation of newer, more sophisticated equipment, I am more confident than ever that the complementary, specialty cleaning and maintenance services we provide are uniquely suited to support our customers in this evolving landscape. We have great momentum across the business and are excited to continue executing on our strategy."
"When we first invested in USA DeBusk, we saw a tremendous opportunity to partner with an exceptional management team in an industry where the need for an integrated and broad suite of specialty cleaning and maintenance solutions was rapidly accelerating, and we saw that USA DeBusk was uniquely positioned to provide these solutions to its customer base," said Gary Reaves, Managing Partner at First Reserve. "By executing on a shared vision to drive organic growth and thoughtfully expand the company's specialty services offering, USA DeBusk has continued to achieve successes while reinforcing its reputation as a single-source, trusted partner for customers across the country."
Will Brown, Managing Director at First Reserve, added, "We're proud of what we've accomplished alongside the USA DeBusk team. As one of the leading providers of specialty maintenance services in the country, the company is well positioned to build on its momentum, continue to strategically expand its footprint and grow its customer base. The management team remains heavily invested and we look forward to following the team's continued success in this next chapter."
About First Reserve
First Reserve is a leading global private equity firm focused on investing across diversified energy, utility, and industrial end-markets. Founded in 1983, First Reserve has more than 40 years of industry insight, and has cultivated a network of global relationships. First Reserve has raised more than $34 billion of aggregate capital since inception. Its investment and operational experience have been built from over 750 transactions, including platform investments and add-on acquisitions, on six continents. The firm's portfolio companies have operated globally in over 60 countries and span the entire energy and industrial spectrum. Please visit www.firstreserve.com for further information.
About USA DeBusk
USA DeBusk provides a comprehensive suite of industrial cleaning and infrastructure maintenance services to a diverse, blue-chip customer base across a broad range of end markets, including chemical, renewable fuels, refining and power generation. Headquartered in Deer Park, TX, USA DeBusk operates from a network of offices across the United States and employs over 2,500 full-time employees. Please visit usadebusk.com for further information.
Contacts
For First Reserve:
Erik Carlson / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449
FirstReserve-JF@joelefrank.com
For USA DeBusk:
Cristin Johnson
USA DeBusk LLC
281.941.9670
cnjohnson@usadebusk.com
SOURCE First Reserve
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