Aquila Power services changes its name to Aquilex Services Corp.

HOUSTON, Texas, Nov. 19, 2002 — Aquila Power Services Corp., a privately held portfolio company of First Reserve Corporation, announced the changing of its name to Aquilex Services Corp.

About Aquilex Services Corp.
Aquilex Services Corp. is a provider of maintenance, repair and overhaul services; pollution control equipment; and engineering and fabrication to the power generation and other industries.

First Reserve Corporation formed Aquilex Services Corp. to capitalize on the projected growth for these industries, both domestically and internationally. To date, Aquilex has acquired Welding Services Inc., Wheelabrator Air Pollution Control Inc. and C&W Fabricators Inc. Aquilex’s equity investors include First Reserve, CIBC Capital and Abbott Capital.
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About First Reserve Corp.
First Reserve Corporation (Greenwich, Conn.) is a private equity firm specializing in the energy industry, with $2.5 billion under management. Founded in 1980, First Reserve was the first private equity investment firm to actively pursue building a broadly diversified investment portfolio within the energy industry.

First Reserve is currently or was previously the largest shareholder of Chicago Bridge & Iron, Pride International, National Oilwell, Weatherford International, Maverick Tube Corporation, Cal Dive and Superior Energy Services.

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