First Reserve Portfolio Company Aquilex Agrees to Sell Wheelabrator Air Pollution Control to the Siemens Power Generation Group of Siemens AG.
PR Newswire Europe, October, 2005
GREENWICH, Connecticut, October 5 /PRNewswire/ -- First Reserve Corporation, the premier private equity firm specializing in energy industry investments, announced today that portfolio company Aquilex has entered into a definitive agreement to sell its subsidiary Wheelabrator Air Pollution Control to the Siemens Power Generation Group of Siemens AG. "We are pleased to have been able to identify and work with a very synergistic, strategic buyer for the business and believe it to be in solid long term hands. We are grateful to have had the opportunity to work with the Wheelabrator management team and believe they are well positioned to continue their dramatic growth and success," indicated Tom Sikorski, Chairman of Aquilex and Managing Director of First Reserve....
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