Continuing on its trajectory of aggressive growth through acquisition, Brown & Root announced today it has acquired MEI Group LLC, a White Castle-based turnaround specialist for industrial facilities.
Terms of the deal—Brown & Root’s third acquisition in 15 months—were not disclosed. But for Brown & Root, which provides industrial engineering, maintenance and construction services to the refining, petrochemical and manufacturing sectors, the deal makes sense.
The two companies serve the same markets, and MEI’s expertise in turnarounds will enable Brown & Root to expand its offerings and build a comprehensive industrial services organization.
“MEI is a perfect fit for Brown & Root,” says Andy Dupuy, Brown & Root’s president and CEO. “Their service offering complements our existing portfolio of services, bringing a new level of expertise, scale and reach to our turnaround services business.”
The 49-year-old MEI has more than 1,300 employees across eight offices throughout the Gulf Coast and has enjoyed considerable growth over the past two years. In 2015, its revenues nearly tripled to $226 million from $77 million in 2014, according to Business Report’s Book of Lists.
In a statement, MEI Group CEO Michael Campesi says the two companies have a shared culture, common values and similar business philosophies.
“By aligning our skills and industry expertise, we are able to offer our clients superior services,” he says. “I look forward to this new chapter for our business.”
With the acquisition of MEI Group, which Dupuy describes as “transformational,” Brown & Root grows to more than 8,500 employees and more than 100 locations nationwide.
The deal also expands the holdings of Bernhard Capital Partners, the private equity firm created in 2013 by former Shaw Group founder and executive Jim Bernhard and a handful of his closest executives from that company. In the years since, BCP has raised more than $750 million and built four portfolio companies—including Brown & Root—that specialize in all aspects of the energy services sector. Read a Business Report cover story from June on the growing BCP empire.
—Stephanie Riegel
