M&A Deal Summary

Westinghouse Electric Acquires BHI Energy

On April 14, 2022, Westinghouse Electric acquired business services company BHI Energy from AE Industrial Partners

Acquisition Highlights
  • This is Westinghouse Electric’s 2nd transaction in the Business Services sector.
  • This is Westinghouse Electric’s 3rd transaction in the United States.
  • This is Westinghouse Electric’s 2nd transaction in Massachusetts.

M&A Deal Summary

Date 2022-04-14
Target BHI Energy
Sector Business Services
Buyer(s) Westinghouse Electric
Sellers(s) AE Industrial Partners
Deal Type Add-on Acquisition

Target

BHI Energy

Weymouth, Massachusetts, United States
website
BHI Energy is a provider of on-site specialty maintenance, radiation protection, and staffing services to the power-generation industry. BHI’s business model is proven to build longstanding relationships with customers through the alignment of operating objectives and the ability to help customers effectively manage and service their assets across power generation, oil & gas, and electricity transmission and distribution sectors. BHI Energy was founded in 1979 and is based in Weymouth, Massachusetts.

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Buyer(S) 1

Buyer

Westinghouse Electric

Cranberry Township, Pennsylvania, United States

website


Category Company
Founded 1884
Sector Energy Services and Equipment
DESCRIPTION

Westinghouse Electric is providing nuclear energy technologies, products and services to utilities around the world. Its mission is to focus on a much broader goal; using the power of intellect, collaboration and innovation to build on the legacy of our founder, and to create a cleaner, safer and sustainable carbon-free future for generations to follow. Westinghouse Electric was founded in 1884 and is based in Cranberry Township, Pennsylvania.


DEAL STATS #
Overall 8 of 8
Sector (Business Services) 2 of 2
Type (Add-on Acquisition) 5 of 5
State (Massachusetts) 2 of 2
Country (United States) 3 of 3
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-03 Laveer Engineering

Burlington, Ontario, Canada

Laveer Engineering is a specialized nuclear engineering company that provides custom tooling and automation solutions to industry. Through innovative design and technology, supported with relevant expertise, Laveer will provide its customers with superior tailored products and services. Laveer Engineering is based in Burlington, Ontario.

Buy -

Seller(S) 1

SELLER
DESCRIPTION
AE Industrial Partners' headquarters in Boca Raton, Florida.
AE Industrial Partners' headquarters in Boca Raton, Florida.

AE Industrial Partners is a private equity firm focused on acquiring and investing in aerospace and industrial companies. The Firm specifically looks for established, profitable companies in the aircraft propulsion (turbojet, turbofan and turboprop aircraft engines) and power generation (industrial turbines) industries, as well as the manufacture of OEM and replacement parts, and aftermarket maintenance, repair and overhaul. AE Industrial Partners was formed in 1998 and is based in Boca Raton, Florida.


DEAL STATS #
Overall 9 of 13
Sector (Business Services) 1 of 2
Type (Add-on Acquisition) 7 of 9
State (Massachusetts) 1 of 1
Country (United States) 9 of 13
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-24 Firefly Aerospace

Cedar Park, Texas, United States

Firefly Aerospace is providing economical launch vehicles, spacecraft, and in-space services. Firefly's launch vehicles utilize common technologies, manufacturing infrastructure, and launch capabilities, providing LEO launch solutions for up to ten metric tons of payload at the lowest cost per kg in the small-launch class. Firefly Aerospace is based in Cedar Park, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 York Space Systems

Denver, Colorado, United States

York Space Systems is an independent provider of small satellites, satellite components, and turnkey mission operations. manufactures and architects low Earth orbit, geosynchronous equatorial orbit, and cislunar spacecraft solutions for the proliferated satellite market. York Space Systems was founded in 2012 and is based in Denver, Colorado.

Buy -