In a surprise announcement, Bernhard Energy Solutions has named a new CEO, Ed Tinsley, to replace Steve Nathanson, the veteran energy executive who is retiring after a little more than two years at the helm of the company.
According to a prepared statement, Tinsley has more than 35 years of experience in the field of energy services and solutions, and is currently an executive within the ranks of the company he will now head. He is a co-founder of Bernhard TME and the current CEO of Bernhard Energy, two of the four divisions that collectively make up Bernhard Energy Solutions.
Reached by phone, Nathanson declines to comment on the reasons for his retirement but says he has been thinking about it for a while. The one-time founder and CEO of Genesis Energy says he is not sure whether he will stay in Louisiana but that several options are on the table.
In his two-plus years with the company, Nathanson helped integrate, grow and brand Bernhard Energy Solutions into a company with some $500 million in revenues, 2,000 employees across 27 states and clients that include Walt Disney World, Duke University and the Louis Armstrong New Orleans International Airport.
The company is one of seven portfolio companies created in 2015 by Bernhard Capital Partners, or BCP, the private equity firm founded by Jim Bernhard and three of his top executives from The Shaw Group after that company’s acquisition by CB&I.
BCP formed Bernhard Energy Solutions by acquiring and combining four existing companies: TME, now Bernhard TME, of Little Rock; EP Breaux Electrical, of Lafayette; Metairie-based MCC; and Lafayette-based Bernhard Mechanical, which was founded in 1919 in Baton Rouge by Jim Bernhard’s grandfather.
Earlier this year, Nathanson told Business Report he was well on his way to growing Bernhard Energy Solutions into a Fortune 500 company.