Carlyle/Riverstone Sells International Logging

Carlyle/Riverstone Global Energy & Power Fund has sold its interest in International Logging Inc. to Weatherford International Ltd. No financial terms were disclosed. Lehman Brothers advised International Logging on the deal.

 

PRESS RELEASE

Carlyle/Riverstone Global Energy and Power Fund III today announced that it has sold its interest in International Logging, Inc. (“ILI“) to Weatherford International Ltd. The Fund, along with Cherington Capital and management, acquired ILI in March, 2006. ILI subsequently made four acquisitions between 2006 and 2007. ILI provides oil/gas well-site geological logging services with principal offices in Asia, South America and Africa. Terms were not disclosed.

 

Greg Beard, a Managing Director at Riverstone Holdings LLC said, “ILI, a leader in its specialized field, is an outstanding company that proved to be an excellent investment. We wish Weatherford and the entire ILI management team continued success.”

 

Lehman Brothers acted as financial advisor to International Logging, Inc.

 

About Riverstone Holdings LLC

Riverstone Holdings LLC, an energy and power-focused private equity firm founded in 2000, has approximately $14.8 billion under management across six investment funds. Riverstone conducts buyout and growth capital investments in the midstream, exploration & production, oilfield service, power and renewable sectors of the energy industry. With offices in New York, London and Houston, the firm has committed approximately $9.9 billion to 57 investments in North America, Latin America, Europe and Asia. For more information, visit www.riverstonellc.com.

 

About Carlyle Group

The Carlyle Group is one of the world's largest private equity firms, with over 60 funds across four investment disciplines (buyouts, venture & growth capital, real estate and leveraged finance) totaling more than $81.1 billion under management. Carlyle's more than 575 investment professionals operate out of offices in 21 countries in North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America, covering a wide range of industries (aerospace & defense, automotive & transportation, consumer & retail, energy & power, healthcare, industrial, infrastructure, real estate, technology & business services and telecommunications & media).