#United States #McDermott #The Woodlands #Mason Capital #CBI

Mason Capital Management's Acquisition of CB&I

In a significant shift in the energy infrastructure landscape, CB&I, recognized worldwide as a leader in designing and constructing storage facilities, has completed its acquisition by a consortium led by Mason Capital Management. This marks a pivotal moment for CB&I, previously a subsidiary of McDermott International, as it transforms into an independent entity.

CB&I specializes in creating tanks and terminals that serve both energy and industrial markets. With over 135 years of experience, the company has successfully delivered more than 60,000 structures globally. This acquisition, finalized on December 9, 2024, secures CB&I's strong financial footing while eliminating funded debt. Mark Butts, CEO of CB&I, expressed enthusiasm about the partnership, emphasizing that it opens a new chapter for the company, enabling it to innovate and meet evolving infrastructure demands.

Strengthening Market Position

The consortium, which includes IES Holdings, Nut Tree Capital Management, 683 Capital Management, First Pacific Advisors, and other investors, aims to leverage CB&I's extensive legacy and expertise. Mike Martino, the managing member of Mason Capital, stated their intention to empower CB&I to explore new market opportunities and realize its growth potential in the rapidly evolving energy storage solutions sector.

Mason Capital Management, established in 2000, is known for its focus on generating absolute returns through extensive fundamental analysis and strategic investments. The firm aims to drive value through event-driven investments and corporate carve-outs, positioning itself as a significant player in the financial investment landscape.

Future Innovations

As an independent company, CBI is expected to double down on its longstanding commitment to safety, reliability, and innovative solutions in the industry. Butts highlighted that the strong market demand and the strategic financial support from the consortium will allow CB&I to enhance its collaborative efforts with valued customers and suppliers.

This acquisition is poised to not only solidify CBI's existing market stance but also expand its impact in the energy storage realm, responding effectively to the needs of a dynamic and evolving market. With partners like Mason Capital by its side, CBI is prepared to navigate the future challenges in energy infrastructure confidently.

CB&I’s commitment to quality and innovation has been recognized across various sectors, solidifying its reputation as a trusted partner for complex energy infrastructure projects. Through this transition, they aim to maintain their leadership in designing and constructing cutting-edge storage solutions that meet the global standards of today’s energy market.

In conclusion, the acquisition signifies not just a structural change in ownership but a strategic move towards enhanced growth and innovation in energy solutions. Both CB&I and Mason Capital Management are set to play a critical role in shaping the future landscape of energy storage infrastructure.