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Dresser, Inc. to be Acquired by GE

Wednesday, October 6, 2010  
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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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