A holding company chaired by former Shaw Group executive Jim Bernhard Jr. has aligned four businesses to provide design-and-build energy infrastructure services similar to the company that acquired Shaw two years ago in a $3 billion deal.
CB&I, which bought Baton Rouge-based Shaw Group in February 2013, describes itself as “the most complete energy infrastructure-focused company in the world.” CB&I’s services include design, engineering, construction, fabrication, maintenance and environmental services.
The four businesses being combined under parent company Bernhard are Bernhard Energy in Lafayette, Bernard Mechanical in Baton Rouge, EP Breaux Electrical in New Iberia and TME in Little Rock, Arkansas.
The four Bernhard companies will provide energy-engineering, energy conservation, facility operations, mechanical and electrical construction, and maintenance services for commercial, institutional and industrial clients. Bernhard operates 13 offices and has about 725 employees in locations across the country.
The parent company said each business will retain its leadership and corporate headquarters.
Bernhard Energy develops energy systems and power plants. Bernhard Mechanical provides mechanical construction and maintenance services. EP Breaux is an electrical contractor, specializing in installation projects. TME is a mechanical, electrical, plumbing, fire protection, structural and energy engineering firm.
Jim Bernhard Jr., founder and former chief executive officer of The Shaw Group, is the holding company’s chairman.
Bernhard took Shaw from a pipe fabrication yard to a Fortune 500 company and global powerhouse. By the time he left, Shaw had 25,000 employees and generated annual revenue of nearly $6 billion. One of Bernhard’s last tasks at Shaw was negotiating the company’s sale to CB&I, a Woodlands, Texas, company that had $5.5 billion in annual revenue and 23,000 employees worldwide.
The $3 billion cash-and-stock deal was announced in July 2012 and closed Feb. 13, 2013. The company became CB&I Shaw and continues to have major operations in Baton Rouge.
As part of the CB&I deal, Bernhard was required to sign an agreement saying he wouldn’t compete with Shaw and its businesses for two years.
After leaving Shaw, Bernhard in 2013 formed Bernhard Capital Partners, an energy services-focused private equity firm, with Jeff Jenkins, former chief operating officer of Shaw Environmental and Infrastructure, other executives from Shaw and a team of private equity professionals.
Board members for the Bernhard holding company announced Thursday are Ed Tinsley, CEO of Bernhard Energy and co-founder and managing partner of TME; Kenneth Bernhard, president and CEO of Bernhard Mechanical; Philip Breaux, president of EP Breaux Electrical; Rusty Mullen, executive managing principal and CEO of TME; Jeff Jenkins, former executive of The Shaw Group; and Albert McAlister, former board member of The Shaw Group.