Roughly two months after the deal was first announced, BCP has finished selling its stake in Brown & Root.
The closing was announced this morning. Financial details of the transaction were not disclosed. Houlihan Lokey served as financial adviser and Kirkland & Ellis LLP served as legal adviser to BCP for the deal.
BCP partnered with KBR in 2015 to establish Brown & Root Industrial Services, and through the partnership the firm expanded its footprint to more than 22 locations across North America and grew to employ more than 10,000 people.
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In August, it was announced that New York-based One Equity Partners, a middle market private equity firm, would make an investment in Brown & Root.
