BHI Sold to Westinghouse

Technology & Services
Energy

BHI, a portfolio company of AEI, acquisition by Westinghouse, a portfolio company of Brookfield


Summary

BHI Energy, Inc. (“BHI”), a portfolio company of AE Industrial Partners, LP (“AEI”), recently signed an agreement to be acquired by Westinghouse Electric Company (“Westinghouse”), a portfolio company of Brookfield Business Partners (“Brookfield”). Terms of the transaction have not been disclosed. The transaction is expected to close pending regulatory approvals and other customary closing conditions.

Baird served as lead financial advisor to BHI Energy, Inc. on this transaction.

About

BHI is a leading provider of specialty services supporting the daily operations, routine maintenance and capital investment requirements for the power generation and electricity transmission & distribution end markets. BHI’s broad service offering enables it to be an embedded provider of choice to a diverse customer base comprised of blue-chip utility and energy companies. BHI has a workforce of over 8,500 experienced project management and technical, professional and craft employees operating at more than 150 project locations globally. BHI is headquartered in Weymouth, Massachusetts.

AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services and specialty industrial markets. AEI invests in market-leading companies that benefit from deep industry knowledge, operating experience and relationships throughout its markets. AEI is headquartered in Boca Raton, Florida.

Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and its technology is the basis for nearly one-half of the world's operating nuclear plants. For over 130 years, Westinghouse has been the preferred partner for technologies covering the complete nuclear energy life cycle. Westinghouse is headquartered in Cranberry Township, Pennsylvania.

Brookfield Business Partners is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position. Brookfield Business Partners is the flagship listed vehicle of Brookfield Asset Management’s Private Equity Group. Brookfield Asset Management is a leading global alternative asset manager with approximately $690 billion of assets under management. Brookfield is headquartered in Toronto, Canada.
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Technology & Services
Energy

BHI, a portfolio company of AEI, acquisition by Westinghouse, a portfolio company of Brookfield

Date
May 2022
Company
BHI Energy, Inc.
Transaction
M&A - Sellside
Sectors
Technology & Services
Energy
Verticals
Energy
Building & Construction Products
Facility, Industrial, Rental & Environmental ("FIRE") Services
Target Location
North America
Acquiror Location
North America

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