Bernhard Capital Partners announced that it has agreed to sell its stake in Baton Rouge-based Brown & Root Industrial Services.
KBR Inc., an investor in Brown & Root since 2015, will continue to own a significant stake in the company. Financial terms of the transaction were not disclosed.
Over the last 10 years, Brown & Root has significantly expanded its footprint, and today serves blue-chip customers across the chemicals and synthetics, energy, manufacturing and government segments with over 10,000 employees and 22 locations across the U.S., Mexico and Canada.
“Our partnership with Jim Bernhard, Jeff Jenkins, Mark Spender and the entire BCP team has been instrumental in our growth and success over the last decade,” a statement from Brown & Root CEO Andy Dupuy reads.
The transaction is expected to be completed in late Q3 or early Q4 2025, subject to customary closing conditions and approvals. Houlihan Lokey is acting as financial adviser and Kirkland & Ellis LLP is serving as legal adviser to BCP.
In a separate announcement, New York-based One Equity Partners, a middle market private equity firm, announced it will make an investment in Brown & Root.
