First Reserve, a global private equity investment firm focused exclusively on energy, completed its acquisition of Flow Control division of Weir Group for £275m ($345m), payable in cash and subject to customary working capital and debt-like adjustments at closing. "First Reserve has deep historical experience creating value for our investors in the flow control space, and we are pleased to partner with Weir in this carve-out transaction. In our view, Weir Flow Control represents an attractive growth platform in a fragmented sector, with internationally recognized brands driven by recurring high-margin aftermarket parts and services which have proven to be resilient through multiple economic environments. We look forward to supporting David Paradis and his talented management team to promote both organic growth and acquisitive expansion of the platform as we seek to drive value on behalf of our investors," Jeff Quake and Neil Hartley, First Reserve Managing Directors.