The Firm is representing First Reserve in connection with its announced agreement to purchase Dresser Natural Gas Solutions from Baker Hughes, a GE company (NYSE: BHGE). The business operations and related clients of Talamona, Dresser Italia S.r.l. will not be included in the sale. Financial details of the transaction were not disclosed.
Dresser NGS has highly accurate, scalable manufacturing capabilities for proprietary Dresser products including natural gas meters and instruments and gas pipeline solutions, as well as additional manufacturing of chemical injection pumps and electric actuators. Dresser NGS’ equipment serves diverse energy end-markets, including the gas distribution utility, midstream and petrochemical industries, where replacement and upgrade of aging infrastructure is critical.
The Simpson Thacher team includes Michael T. Holick, Shaun Levor, Jiarui Li and Kevin O’Connell (M&A); Lori Lesser, Marcela Robledo and Melanie Jolson (Intellectual Property); Alden Millard, Michael Vernace and Eric Wisotsky (Credit); Larry Moss, Alisa Tschorke and Stephan Bradley (Executive Compensation and Employee Benefits); John J. Creed, Joseph Tootle and Pierce Pandolph (Tax); Krista McManus and Dennis Loiacono (Real Estate); Michael Isby and Timothy Mulvihill (Environmental); David Shogren (Regulatory); Kelly Karapetyan and William Kearney (Antitrust). Summer Associates Justin Stone and Alisha Tupchong also provided valuable assistance.