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TheStreet Open House

Acteon Group Announces Change In Ownership: First Reserve Corporation Sells Majority Interest In Acteon To KKR

The transaction is subject to customary approvals and is expected to close by year-end 2012.

J.P. Morgan Cazenove and Simmons & Company International jointly advised First Reserve Corporation and Acteon Group Ltd. HSBC Bank Plc advised KKR on the transaction.

About Acteon Group Ltd.

About Acteon:

Acteon companies provide Mooring, Foundations, Riser, Conductors, Flowlines and Marine Electronics products and services, supported by strong engineering and project management capability. Acteon’s companies are 2H Offshore, Aquatic, CAPE Group, Claxton, Conductor Installation Services (CIS), Fluke Engenharia, InterAct, InterMoor, Large Diameter Drilling (LDD), MENCK GmbH, Mirage Machines, NCS Survey, Offshore Installation Services (OIS), Pulse Structural Monitoring, Seatronics, Subsea Riser Products (SRP) and TEAM Energy Resources.

Learn more at www.acteon.com

About Subsea Services:

Subsea services is defined as the provision of specialist equipment, services and personnel that can operate from any fit-for-purpose vessel or platform. Acteon’s subsea services offering is unique and addresses operational requirements that support oil and gas asset owners, construction and drilling companies and vessel owners.

About First Reserve Corporation

Founded in 1983, First Reserve is a leading global investment firm dedicated to the energy industry with over $23 billion of raised capital since its inception. With offices in North America, Europe and Asia, First Reserve is well-positioned to make strategic investments on a global basis across the energy value chain. First Reserve seeks to create value for its investors by applying its deep industry knowledge, decades of investing and operational experience, highly talented management team and powerful network of global relationships to its investments and through active monitoring of its portfolio companies. For additional information, please visit First Reserve’s website at www.firstreserve.com

About KKR

Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $61.5 billion in assets under management as of June 30, 2012. With offices around the world, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments. KKR complements its investment expertise and strengthens interactions with investors through its client relationships and capital markets platform. KKR is publicly traded on the New York Stock Exchange (NYSE:KKR).

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