Brown & Root Enters New Chapter as BCP Exits
Deal News | Aug 07, 2025 | Bernhard Capital Partners Mana
Bernhard Capital Partners (BCP), a private equity firm specializing in services and infrastructure, announced the sale of its stake in Brown & Root Industrial Services. KBR, Inc., which has been a shareholder since 2015, will retain a significant interest. The financial details of the transaction have not been disclosed. Since its establishment in 2015, Brown & Root Industrial Services has expanded significantly, serving major clients across various sectors, with a workforce of over 10,000 and operations in the U.S., Mexico, and Canada. The CEO, Andy Dupuy, and his team have attributed much of the company's growth to their partnership with BCP. The sale, expected to conclude in late 2025, symbolizes BCP's approach of fostering growth with world-class management teams. Houlihan Lokey is acting as financial advisor and Kirkland & Ellis LLP as legal advisor to BCP in the transaction.
Sectors
- Private Equity
- Industrial Services
- Infrastructure
Geography
- United States – Headquarters of BCP and significant operations of Brown & Root Industrial Services are based in the U.S.
- Mexico – Brown & Root Industrial Services has significant operations in Mexico.
- Canada – Brown & Root Industrial Services is also operational in Canada.
Industry
- Private Equity – BCP, as a private equity firm, is involved in the transaction of selling its stake in Brown & Root Industrial Services.
- Industrial Services – Brown & Root Industrial Services operates in this sector, offering a wide range of industrial services to various industries.
- Infrastructure – The article involves BCP, a firm focusing on infrastructure investments, highlighting its relevance.
Financials
- Undisclosed – Financial terms of the transaction between BCP and Brown & Root Industrial Services were not disclosed.
- $5 billion – Assets under management by Bernhard Capital Partners.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bernhard Capital Partners | Selling Company | Company | A private equity management firm specializing in services and infrastructure. |
| Brown & Root Industrial Services | Target Company | Company | A provider of industrial services, partnering with BCP and KBR. |
| KBR, Inc. | Other Company | Company | Maintains a significant stake in Brown & Root Industrial Services. |
| Houlihan Lokey | Financial Advisor | Company | Serving as financial advisor to BCP in the transaction. |
| Kirkland & Ellis LLP | Legal Advisor | Company | Providing legal advice to BCP for the transaction. |
| Andy Dupuy | CEO | Person | CEO of Brown & Root Industrial Services. |
| Mark Spender | Partner | Person | Partner at Bernhard Capital Partners, involved in the transaction. |
| Jim Bernhard | BCP Team Member | Person | Member of the BCP team instrumental in the partnership with Brown & Root. |
| Jeff Jenkins | BCP Team Member | Person | Member of the BCP team instrumental in the partnership with Brown & Root. |