Bernhard Capital Partners has acquired two business segments of Houston-based Willbros Group, the companies announced this morning.
Along with acquiring Willbros’ Heater Engineering services, which are based in Tulsa, Oklahoma, Bernhard Capital is also picking up its Baton Rouge-based Downstream Engineering services. Financial details of the acquisition were not disclosed.
With the finalization of the deal, the Downstream Engineering services will remain in Baton Rouge and be rebranded as Wink Engineering—as the company was known prior to being acquired by Willbros in 2009. The management team will remain unchanged, the company says in a news release, with Andy Farris serving as CEO. The company was founded in 1970.
“Since being acquired by WIllbros in 2009, all of the original elements of the Wink organization have remained intact,” Farris says in a prepared statement. “We are delighted to be returning to our roots as a privately held company and are excited about the opportunities in front of us.”
Willbros, a specialty energy infrastructure contractor serving the oil, gas, refining, petrochemical and power industries, says it continues to pursue selling other business sectors. The sale is to include the “midstream and mainline engineering operations, the integrity solutions and technology business, the land and survey group, and the government services business,” the company says in a release, adding there is no guarantee the sales will be completed. “The company has not set a definitive timetable for completion of the process and does not intend to disclose further developments until its board of directors approves a specific action.”
Former Shaw Group CEO Jim Bernhard established Bernhard Capital in 2013, and earlier this year the private equity firm announced it had formed an integrated energy services firm made up of several existing companies, including the mechanical construction company founded by Bernhard’s grandfather nearly a century ago.
