Island Energy Services Joins Forces with First Reserve and Fortress Investment Group
Deal News | Jun 02, 2025 | Fortress Investment Group LLC (NYSE:FIG)
First Reserve and Fortress Investment Group have entered an agreement to acquire a majority stake in Island Energy Services, a prominent fuel logistics and infrastructure provider in Hawaii. This partnership represents a strategic investment aiming to capitalize on the robust energy infrastructure that IES offers, including extensive storage and pipeline networks across Hawaii. The acquisition from One Rock Capital Partners, which will retain a minority interest, is expected to be finalized in the third quarter of this year. The new ownership intends to drive growth through strategic initiatives including the development of renewable fuel capabilities to align with Hawaii's energy transition. First Reserve brings extensive experience in infrastructure investments, and together with Fortress, they plan to enhance IES's service offerings while supporting local energy demands and facilitating a move toward biofuels. This transaction is a pivotal step for IES as it seeks to expand its impact in Hawaii's energy sector, with commitments to long-term infrastructure utilization and customer value enhancement.
Sectors
- Energy
- Private Equity
- Infrastructure
Geography
- United States – Island Energy Services operates primarily in Hawaii, which is part of the United States. The deal involves American companies First Reserve and Fortress Investment Group.
Industry
- Energy – The article involves Island Energy Services, which operates within the energy sector, specifically in fuel logistics and infrastructure.
- Private Equity – First Reserve and Fortress Investment Group are private equity firms engaged in acquiring a majority stake in Island Energy Services.
- Infrastructure – The focus on logistics and infrastructure development related to energy supply chains in Hawaii positions this within the infrastructure industry sector.
Financials
- Not Disclosed – Financial terms of the transaction were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Island Energy Services, LLC | Target Company | Company | A leading integrated fuel logistics and infrastructure provider in Hawaii. |
| First Reserve | Bidding Company | Company | A private equity firm with deep expertise in energy and infrastructure investments. |
| Fortress Investment Group LLC | Bidding Company | Company | A highly diversified global investment manager involved in the acquisition. |
| One Rock Capital Partners, LLC | Vendor | Company | The selling entity that currently owns Island Energy Services and will retain a minority stake post-transaction. |