Riverstone holdings is a private equity firm focused primarily on the energy and power sectors. The firm was founded in the year 2000 by David Leuschen and Pierre F. Lapeyre, Jr. Mr. Leuschen serves Riverstone Holdings LLC in his capacity as the Co-Founder, Partner and MD. Mr. Leuschen also co-founded Three Rivers Operating Company in 2009; he is also the president of Switchback Ranch LLC. Mr. Lepeyre remains a Senior MD at Riverstone and is currently based in New York. In the past few months Riverstone Holdings LLC has been involved in a number of deals in the energy sector; these include; the signing of a definitive agreement with Warwick Energy Group, purchase of Wayne Business from General Electric – GE and the construction of a new glove factory building in Malaysia.
In April 1, 2014 Riverstone Holdings Ltd together with the Warwick Energy Group signed a definitive agreement to which Riverstone/Carlyle Global Energy and Power Fund agreed to sell R/C Sugarkane LLC. Sugarkane is a private upstream gas and oil entity with large non-operated working interest. Under the deal, Riverstone managed its investment in partnership with the Texas Crude Energy management teams. In May 7, 2014 at an event held in Austin, Texas; Riverstone Holdings LLC agreed to purchase Wayne Business from General Electric. Wayne, A GE Business is a renowned global innovator of forecourt technologies and fuel dispensers. Energy Market analysts believe that the transaction will enable Wayne to continue with its development of core innovative technologies involving the production of Wayne Fusion forecourt system and Wayne Helix fuel dispenser.
In August 4, 2014 Riverstone Holdings Ltd subsidiary Eco Medi Glove announced that it will be constructing a new glove factory building in Kawasan Industri Kamunting Raya – Perak, Malaysia. The new factory is slated for completion in the middle of 2015. The total contract amount is estimated at 11 mln Ringgit. The new facilities will house new production lines that will have the capacity to add up to 1 bln new gloves. Funding for this project was sourced from the internal sources. During the same month, Riverstone Holdings announced a 7.1% rise in year-to-year revenues to a record $96.9 mln Ringgit with a corresponding 11.3% increase in year-to-year net profits to $16.1 mln Ringgit for the 3-months ending June 30, 2014. The company directors went on to declare an interim dividend per share of 2.35 Malaysian Ringgit.