Dresser Utility Solutions, a portfolio company of First Reserve and leading provider of global infrastructure technology to water and gas utility and industrial customers, has acquired Kobus, a portfolio company of Agile Growth Equity and the global leader in gas and water pipe pulling technology.
Kobus will continue to operate in its current locations in Houston, U.S., and Tamworth, U.K., delivering a global solution for underground gas and water pipe replacement. The acquisition will address the challenges of aging utility infrastructure, especially the mandated removal of more than 9 million lead service lines across the U.S. Kobus’ innovative Pipe Puller technology allows for faster, safer, and more cost-effective pipe replacement than other replacement methods. Kobus will expand Dresser’s capabilities to provide safe and innovative solutions to both gas and water utilities.
David Evans, chief executive officer, Dresser Utility Solutions, said, “This acquisition aligns with our corporate strategy to be a complete supplier of essential technology to utilities worldwide. Together with Kobus, we are better positioned to address the challenges of aging utility infrastructure, including recent legislation aimed at replacing lead service lines.”
Tom Atienza, president, Kobus, agreed, adding, “By joining forces with Dresser Utility Solutions, we will be able to leverage their extensive network and resources to enhance our ability to deliver critical infrastructure modernization solutions.”
About Dresser Utility Solutions
With a long history of innovation and providing safe, reliable infrastructure technology to support utility companies, Dresser Utility Solutions continues to ensure our customers receive high performing energy transition technologies that operate safely, reduce emissions and lost product, and minimize operational costs. The Dresser portfolio includes gas metering technology, flow assurance solutions, high-performance pressure control devices, chemical injection pumps, electric actuators and related software and IOT technologies. Headquartered in Houston, Texas, Dresser Utility Solutions has a global presence with approximately 850 employees and a sales presence in over 100 countries. For more information, visit www.dresserutility.com.
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 Agile Growth Equity
Agile Growth Equity is a growth-oriented private equity firm focused on partnering with innovative lower middle market B2B companies. Please visit www.agilege.com for further information.