Houston-based energy services company KBR said it finalized two previously announced partnerships with Bernhard Capital Partners.
One partnership is the equally owned and managed company, Brown & Root Industrial Services, under which all of KBR’s U.S. and Canadian industrial services and on-call construction is now operating, the company said.
Under the other partnership, all of KBR’s Canadian pipe fabrication business has become Falcon Fabricators and Modular Builders, an EPIC Piping, a BCP portfolio company in which KBR is a minority limited partner.
KBR said it received approximately $32 million in net cash proceeds from the two transactions.
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Image: KBR