M&A Deal Summary

One Equity Partners and KBR Acquire Brown & Root Industrial Services

On August 7, 2025, private equity firm One Equity Partners and KBR acquired engineering company Brown & Root Industrial Services from Bernhard Capital Partners and KBR

Acquisition Highlights
  • This is One Equity Partners’ 1st and KBR’s 4th transaction in the Engineering sector.
  • This is One Equity Partners’ 81st and KBR’s 12th transaction in the United States.
  • This is One Equity Partners’ 3rd and KBR’s 2nd transaction in Louisiana.

M&A Deal Summary

Date 2025-08-07
Target Brown & Root Industrial Services
Sector Engineering
Buyer(s) One Equity Partners
KBR
Sellers(s) Bernhard Capital Partners
KBR
Deal Type Secondary Buyout

Target

Brown & Root Industrial Services

Baton Rouge, Louisiana, United States
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.

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Buyer(S) 2

Buyer

One Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

One Equity Partners (OEP) is a private equity firm that targets buyout and growth capital investments in North America, Europe, and Asia. OEP prefers to be the lead investor and typically commits $30 to $150 million per transaction. Sectors of interest include industrial products/services, consumer, retail, chemicals, media, communications, and healthcare. One Equity Partners was formed in 2001 and spun out of JP Morgan Chase in 2015. One Equity Partners is based in New York, New York.


DEAL STATS #
Overall 135 of 138
Sector: Engineering M&A 1 of 1
Type: Secondary Buyout M&A Deals 23 of 24
State: Louisiana M&A 3 of 3
Country: United States M&A 81 of 82
Year: 2025 M&A 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-29 Eco Material Technologies

South Jordan, Utah, United States

Eco Material Technologies is a marketer and distributor of fly ash, with an approximately 50% volume share in the U.S. and a national footprint of logistics networks and distribution channels. Eco Material Technologies is based in South Jordan, Utah.

Sell $2.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-29 BARTEC

Bad Mergentheim, Germany

BARTEC is a provider of industrial safety technology for use in hazardous environments. Its clients are primarily in the oil and gas, energy, mining chemicals and pharmaceuticals industries. BARTEC was founded in 1975 and is based in Bad Mergentheim, Germany.

Buy -
Buyer

KBR

Houston, Texas, United States

Category Company
Founded 1901
Sector Engineering
Employees38,000
Revenue 7.7B USD (2024)
DESCRIPTION
Jefferson Towers, home of KBR's corporate headquarters in downtown Houston, Texas.
Jefferson Towers, home of KBR's corporate headquarters in downtown Houston, Texas.

KBR is an engineering, construction, and services company supporting the global hydrocarbons and international government services market segments. The company offers a portfolio of proprietary technology and consulting services; engineering, construction, procurement, and asset maintenance services; and base operational, logistics, life support, and asset management services, through its technology & consulting, engineering & construction, and government services business segments. KBR was founded in 1901 and is based in Houston, Texas.


DEAL STATS #
Overall 22 of 22
Sector: Engineering M&A 4 of 4
Type: Secondary Buyout M&A Deals 1 of 1
State: Louisiana M&A 2 of 2
Country: United States M&A 12 of 12
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-16 LinQuest

Los Angeles, California, United States

LinQuest provides U.S. defense and intelligence communities with space systems technology solutions, including large-scale systems engineering & integration, software and cyber systems development, complex systems modeling & simulation, data analytics, and turnkey mission solutions. LinQuest was founded in 2004 and is based in Los Angeles, California.

Buy $737M

Seller(S) 2

DESCRIPTION

Bernhard Capital Partners is a private equity firm focused on acquiring and investing in middle-market services companies. Bernhard Capital Partners was formed in 2013 and is headquartered in Baton Rouge, Louisiana.


DEAL STATS #
Overall 3 of 4
Sector: Engineering M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
State: Louisiana M&A 2 of 3
Country: United States M&A 3 of 4
Year: 2025 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-02 TechServ

Tyler, Texas, United States

TechServ provides construction oversight services, utility and telecommunication engineering and design, damage assessment, and joint use coordination to power delivery utilities and telecommunication asset owners. TechServ was founded in 1992 and is based in Tyler, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-30 Gray Surety

Mandeville, Louisiana, United States

Gray Surety is a provider of surety bond solutions offering contract, commercial, and specialty bonds to contractors, businesses, and individuals. Gray Surety focuses on underwriting flexible and reliable bonding programs supported by strong financial backing and personalized service. Gray Surety was founded in 2003 and is based in Mandeville, Louisiana.

Sell -
SELLER

KBR

Houston, Texas, United States

Category Company
Founded 1901
Sector Engineering
Employees38,000
Revenue 7.7B USD (2024)
DESCRIPTION
Jefferson Towers, home of KBR's corporate headquarters in downtown Houston, Texas.
Jefferson Towers, home of KBR's corporate headquarters in downtown Houston, Texas.

KBR is an engineering, construction, and services company supporting the global hydrocarbons and international government services market segments. The company offers a portfolio of proprietary technology and consulting services; engineering, construction, procurement, and asset maintenance services; and base operational, logistics, life support, and asset management services, through its technology & consulting, engineering & construction, and government services business segments. KBR was founded in 1901 and is based in Houston, Texas.


DEAL STATS #
Overall 3 of 3
Sector: Engineering M&A 2 of 2
Type: Secondary Buyout M&A Deals 1 of 1
State: Louisiana M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-16 LinQuest

Los Angeles, California, United States

LinQuest provides U.S. defense and intelligence communities with space systems technology solutions, including large-scale systems engineering & integration, software and cyber systems development, complex systems modeling & simulation, data analytics, and turnkey mission solutions. LinQuest was founded in 2004 and is based in Los Angeles, California.

Buy $737M