Add-on Acquisition • Engineering

Brown & Root Industrial Services Acquires SWAT

On November 3, 2025, Brown & Root Industrial Services acquired engineering company SWAT from ORIX Capital Partners

Acquisition Context
  • This is Brown & Root Industrial Services’ 1st transaction in the Engineering sector.
  • This is Brown & Root Industrial Services’ 1st transaction in the United States.
  • This is Brown & Root Industrial Services’ 1st transaction in Louisiana.

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M&A Deal Summary

Date November 3, 2025
Target SWAT
Sector Engineering
Buyer(s) Brown & Root Industrial Services
Sellers(s) ORIX Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Lazard (Financial)
Kirkland & Ellis (Legal)

Target Company

SWAT

Gonzales, Louisiana, United States
SWAT is a provider of specialty welding and other highly technical services to the oil and gas refinery, biodiesel, petrochemical, and industrial markets. SWAT was founded in 2014 and is based in Gonzales, Louisiana.
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Buyer Overview 1

Buyer

Brown & Root Industrial Services

Baton Rouge, Louisiana, United States

Category Company
Sector Engineering
DESCRIPTION

Brown & Root Industrial Services offers a full range of industrial services, including engineering, construction, maintenance, turnarounds, soft crafts, and specialty services. Brown & Root Industrial Services is based in Baton Rouge, Louisiana.


Deal Context for Buyer #
Overall 1 of 1
Sector: Engineering 1 of 1
Type: Add-on Acquisition 1 of 1
State: Louisiana 1 of 1
Country: United States 1 of 1
Year: 2025 1 of 1

Seller Profile 1

DESCRIPTION

ORIX Capital Partners is a wholly owned subsidiary of ORIX Corporation USA and is an affiliate of Mariner Investment Group LLC. ORIX Capital Partners seeks direct equity investments in established middle-market companies throughout North America. The Firm looks to commit $100 to $250 million of capital in profitable businesses with $20 to $50 million of EBITDA. Sectors of interest include business services, infrastructure services, and industrials. ORIX Capital Partners is based in New York City.


Deal Context for Seller #
Overall 2 of 2
Sector: Engineering 1 of 1
Type: Add-on Acquisition 1 of 1
State: Louisiana 1 of 1
Country: United States 2 of 2
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 Odin

Rocklin, California, United States

Odin provides geotechnical construction, environmental remediation, levee and dam rehabilitation, mechanical dredging, habitat and wetland reconstruction, and disaster recovery to clients in both the public and private sectors. Odin is based in Rocklin, California.

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