A private equity fund managed by First Reserve Corp. committed to invest up to $135 million in Quanta Services Inc.
In a press release, Quanta said First Reserve Fund IX, L.P. agreed to buy 8,666,666 newly issued common shares at $3 each.
The fund also purchased, from Aquila Inc., 3,303,100 Quanta common shares at $3 each and 939,380 Series A preferred shares — convertible into 4,696,900 common shares — at $3 per common share equivalent. As a result, Aquila's ownership in Quan
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