Dresser Utility Solutions invests in future growth with $335 million credit facility
HOUSTON, TX, June 06, 2024 /24-7PressRelease/ -- Dresser Utility Solutions, a leading provider of global infrastructure technology for the energy transition including measurement, instrumentation, coupling and repair, pressure and flow control solutions to water and gas utility and industrial customers, and a portfolio company of First Reserve, has secured a $335 million credit facility from funds managed by Blue Owl Capital's Credit platform.
The new credit facility will be used to support the company's ongoing capital needs, fund strategic acquisitions and general corporate purposes. Nelson Rowe, chief financial officer, Dresser Utility Solutions, said, "This new credit facility enhances our financial flexibility and allows us to continue investing in our future growth. We appreciate the strong support from our lending partners and their confidence in our strategy."
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.
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