First Reserve and Fortress Acquire Majority Stake in Island Energy Services

IES Holdings Acquires Gulf Island Fabrication

January 16, 2026

Manufacturing

IES Holdings, Inc. completed the acquisition of Gulf Island Fabrication, Inc., buying all outstanding common stock for $12.00 per share in cash (approx. $192 million equity value). Gulf Island will join IES's Infrastructure Solutions segment, expanding IES's fabrication capacity and capabilities to better serve data center, energy and government customers.

Fortress Investment Group Acquires Infra Pipe Solutions

December 3, 2024

Manufacturing

Funds managed by affiliates of Fortress Investment Group have acquired a majority stake in Infra Pipe Solutions (IPS), a North American manufacturer of HDPE pipes and structures. Wynnchurch Capital exited the company; IPS management retained a minority stake and Fortress plans to invest to expand capacity and capture strong infrastructure demand across water, telecom and mining markets.

Fortress, Canyon Partners and Others Invest $228M in First Foundation

July 9, 2024

Financial Services

First Foundation closed a $228 million equity financing with investments from affiliates of Fortress Investment Group, Canyon Partners, Strategic Value Bank Partners, North Reef Capital and other investors. The company issued common and preferred shares and seven‑year warrants in the transaction; Jefferies served as exclusive placement agent. The capital is intended to strengthen First Foundation's balance sheet and support its growth as a regional bank and wealth manager.

First Reserve Sells GridTek Utility Services to Undisclosed Buyer

June 11, 2024

Utilities

GridTek Utility Services, a U.S.-based provider of repair, maintenance, installation and upgrade services for electric transmission and distribution infrastructure, has been sold by private equity firm First Reserve. Financial terms and the buyer were not disclosed; advisors on the transaction included Harris Williams (financial) and Simpson Thacher & Bartlett LLP (legal).

GI Partners Acquires Majority Interest in DR Fortress, LLC

January 16, 2020

Infrastructure

GI Partners, a private investment firm, acquired a majority interest in DR Fortress, LLC, Hawaii's largest carrier‑neutral data center, in partnership with DR Fortress' management team including co‑founders Fred Rodi and Rosa White. The investment is intended to accelerate growth, increase resiliency, and expand relationships with global cloud and content providers while maintaining local engagement in Hawaii and the broader Pacific region.

IK Investment Partners to Acquire Majority Stake in Eres

February 20, 2019

Wealth Management

IK Investment Partners' IK VIII Fund has entered exclusive negotiations to acquire a majority stake in French employee-savings and retirement specialist Eres alongside Eres' management team and employees. The deal will see current investor Parquest Capital exit (or reduce its stake) as IK and management look to accelerate Eres' development; financial terms were not disclosed.