BCP Successfully Finalizes Sale of Stake in Brown & Root Industrial Services

BCP Completes Sale of Stake in Brown & Root Industrial Services

On October 6, 2025, Bernhard Capital Partners (BCP), a private equity management firm with a focus on services and infrastructure, announced the successful completion of its previously announced sale of its stake in Brown & Root Industrial Services. This transaction marks a significant milestone in BCP’s relationship with the long-standing company, which specializes in non-discretionary, industrial services. Although the financial terms of the deal remain undisclosed, the implications of this sale are vast, especially considering BCP’s close ties with Brown & Root dating back to 2015.

In 2015, BCP partnered with KBR, Inc. to create Brown & Root Industrial Services, an alliance that has been pivotal for the company's growth. Under the leadership of CEO Andy Dupuy, the company has experienced exponential growth, expanding its footprint to more than 22 locations across the U.S., Mexico, and Canada. The workforce has grown to over 10,000 employees, solidifying Brown & Root's reputation as a preferred partner for significant clients in sectors such as chemicals, energy, manufacturing, and government.

Mark Spender, a Partner at BCP, expressed his enthusiasm regarding the transaction. He stated, “Brown & Root Industrial Services has been part of our story from the very beginning, and we've been fortunate to work alongside Andy and his team to build on the company's long track record of excellence. This has also been a successful investment for our investors, underscoring the value that can be created by partnering with great management teams in essential services.”

The transaction is particularly noteworthy in a financial environment where full exits are increasingly rare. Spender highlighted BCP’s satisfaction in realizing this investment on behalf of its limited partners, while also expressing optimism for Brown & Root's future: “This transaction marks an exciting next chapter for Brown & Root, and we're confident the business is positioned to keep growing and delivering for its customers and employees.”

Andy Dupuy, the CEO of Brown & Root Industrial Services, reciprocated the sentiments expressed by BCP’s management. “Over the past decade, BCP has been more than an investor – they've been a true partner in our evolution,” Dupuy noted. He reflected on the collaborative efforts that led to the company’s expansion and the enhancement of its service offerings, thanking BCP for its integral role in their success.

Brown & Root Industrial Services boasts a rich history dating back to the early 1900s, aligning itself with a legacy of excellence. Offering a comprehensive suite of industrial services, the company covers various project phases in industrial facilities on a global scale. Their expertise includes industrial engineering, construction, maintenance, turnarounds, soft crafts, and specialty services. This diverse range of offerings enables Brown & Root to serve a wide range of industries including refining, petrochemical, alternative fuels, clean energy, and manufacturing.

BCP’s journey began in 2013, and since then, it has managed over $5 billion in assets across several funds, focusing on creating sustainable value through its investments in the service and infrastructure sectors. With a proven track record and a forward-looking approach, BCP continues to position itself as a leading force in private equity investing.

The roles of financial and legal advisors were also pivotal in the transaction, with Houlihan Lokey serving as BCP's financial advisor and Kirkland & Ellis LLP providing legal assistance.

As the story of BCP and Brown & Root Industrial Services unfolds, stakeholders in the industry will be watching closely to see how both entities navigate their next steps. While BCP embarks on new investment opportunities, Brown & Root stands ready to continue its legacy of excellence in the industrial services sector.

For further details about BCP and its ongoing ventures, visit Bernhard Capital Partners. For inquiries about Brown & Root Industrial Services, explore their offerings at their official website Brown & Root.