BCP Announces Sale of Stake in Brown & Root Industrial Services

BATON ROUGE, La., Aug. 7, 2025 /PRNewswire/ -- BCP, a services and infrastructure-focused private equity management firm, today announced that it has agreed to sell its stake in Brown & Root Industrial Services (the "Company"), a provider of non-discretionary, specialty industrial services. KBR, Inc. (NYSE:KBR), which has been an investor in Brown & Root Industrial Services since 2015, will continue to own a significant stake in the Company. Financial terms of the transaction were not disclosed.

Since partnering with KBR to establish Brown & Root Industrial Services in 2015, BCP has partnered closely with Brown & Root Industrial Services CEO Andy Dupuy and the rest of the management team to build on the Company's nearly 100-year legacy as a reliable, innovative partner for customers across the industrial services industry. Over the last 10 years, the Company has significantly expanded its footprint, industry-leading capabilities and best-in-class team. Today, Brown & Root Industrial Services serves blue-chip customers across the chemicals and synthetics, energy, manufacturing and government segments and has 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," said Dupuy. "Their vision, guidance and conviction has been instrumental in enhancing our reputation as the partner of choice for customers across the industrial services market, while remaining true to the principles that have guided us since 1919. This milestone marks the successful culmination of a rewarding partnership, and we are confident our business and our team is well positioned for continued success."

"As one of BCP's original investments, our partnership with Brown & Root Industrial Services is emblematic of our approach to supporting world-class management teams and executing on a shared vision for growth," said Mark Spender, Partner at BCP. "We are proud of all that we have accomplished together to position the company as a leading industrial services provider in North America, while creating significant value for our investors. We look forward to all that the Brown & Root Industrial Services team will continue to accomplish in this next chapter."

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 advisor and Kirkland & Ellis LLP is serving as legal advisor to BCP.

About BCP
BCP is a services and infrastructure-focused private equity management firm established in 2013. BCP has deployed capital in five funds across several strategies and has over $5 billion in assets under management. BCP seeks to create sustainable value by leveraging its experience in acquiring, operating, and growing services and infrastructure businesses. For more information, visit bernhardcapital.com.

About Brown & Root Industrial Services
Brown & Root Industrial Services has been in the industry since the early 1900's and built a legacy synonymous with excellence in providing full-service solutions for every project phase of industrial facilities across the globe. Brown & Root Industrial Services offers a full range of industrial services in industrial engineering, construction, maintenance, turnarounds, soft crafts, and specialty services. Led by a core leadership team with many years of valuable experience and a singular focus on customer service, Brown & Root Industrial Services works with companies in the downstream, refining, petrochemical, chemical, pulp and paper, alternative fuels, clean energy, and manufacturing industries to execute projects, solve challenges and achieve success. Learn more at www.brownandroot.com.

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SOURCE Bernhard Capital Partners Management, LP