First Reserve acquires Applied-Cleveland Holdings

First Reserve, a global private equity and infrastructure investment firm exclusively focused on energy, has acquired Applied-Cleveland Corporation (A-C) from Nautic Partners. A-C is a provider of inspection and integrity management services for energy infrastructure assets in North America across a variety of energy end markets, including transmission, gathering and distribution.

Houlihan Lokey acted as financial advisor to A-C in this transaction. Transaction terms were not disclosed.

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