Dresser, Inc. to be Acquired by GE
Wednesday, October 6, 2010
Dresser, Inc., a leading global energy infrastructure
company majority-owned by funds managed by Riverstone Holdings LLC and First
Reserve Corporation, today announced that an agreement has been reached for
Dresser, Inc. to be acquired by GE for $3 Billion. The deal includes all of the Dresser businesses,
which provide products and services for compression, flow technology,
measurement and distribution infrastructure for customers in more than 150
countries. Dresser’s extensive, global-installed base of products generate
aftermarket service revenues in excess of 40 percent of total revenues.
Dresser President and CEO John Ryan said, "Joining the GE
family will enhance our company’s capability to provide best-in-class energy
technologies to a much broader segment of the energy sector. Our employees have worked hard to build a
world-class reputation and we are confident that our tradition of putting the
customer first will continue to be the standard. Today’s announcement marks the
beginning of a great opportunity for our customers and employees as we put
these two 100+ year old companies together and create new paths for growth and
innovation.” More…
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