One Equity Partners (“OEP”), a middle market private equity firm and partner with KBR in Brown & Root Industrial Services, today announced that portfolio company Brown & Root Industrial Services has signed a definitive agreement to acquire Specialty Welding and Turnarounds (“SWAT”), a leading turnaround, cooling tower and industrial catalyst services provider. This transformational acquisition creates one of the largest specialty welding and turnaround service providers in North America. Financial terms of the private transaction were not disclosed.

Founded in 2014 and headquartered in Gonzales, La., SWAT is a leading provider of critical industrial solutions, offering specialty welding, mechanical, cooling tower, and catalyst services for its blue-chip customers in the refinery, petrochemical, and renewables end-markets. The Company has operations across 22 states and a network of 32,000 highly skilled professionals.

“We’re proud to join forces with SWAT, a highly respected leader in the space,” said Andy Dupuy, CEO of Brown & Root Industrial Services. “This strategic acquisition strengthens our position as a critical partner to our customers, empowering us to meet growing demand driven by skilled labor shortages, advancing equipment complexity, and the increasing need for cost-efficiency and reliability across key industrial end markets.”

The acquisition broadens Brown & Root Industrial Services’ end-market exposure, including further expansion into the refinery and renewables sectors, expands the customer base, and unlocks meaningful cross-selling opportunities. This transaction also improves the overall financial profile of the business and provides potential synergies through anticipated operational efficiencies.

“This transformational acquisition reflects One Equity Partners’ disciplined approach to executing high-impact combinations that scale platform investments and establish market leaders in critical sectors,” said Ante Kusurin, Partner at One Equity Partners. “By combining their complementary strengths these companies are positioned to operate as a unified industry leader, deliver enhanced value to customers, and drive long-term growth for the combined business.”

“The addition of SWAT expands Brown & Root Industrial Services’ capabilities and exposure to the OpEx market across energy security assets, delivering highly valued, specialty solutions to customers’ critical assets,” said Stuart Bradie, KBR President and Chief Executive Officer. “The acquisition expands Brown & Root Industrial Services’ customer base and end market exposure, particularly in the refinery and renewables sectors, and unlocks new cross selling opportunities. It also strengthens the financial profile of the business and is expected to generate operational efficiencies.”

“Brown & Root Industrial Services’ proven reliability and outstanding safety record further reinforce its position as the ideal long-term partner for our business,” said Shane Bellanger, CEO of Specialty Welding and Turnarounds. “Together, we offer a broader suite of capabilities and a truly comprehensive industrial services platform that enables customers to consolidate vendors, reduce administrative complexity, and streamline project execution with confidence.”

Baker McKenzie is providing legal counsel to Brown & Root Industrial Services. Sidley Austin LLP is providing legal counsel to OEP. Arnovia is serving as commercial advisor to OEP, and KPMG is serving as financial advisor to OEP. Kirkland & Ellis LLP is providing legal counsel to SWAT. Lazard is serving as financial advisor to SWAT.

About One Equity Partners

One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 500 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.

About Brown & Root Industrial Services

Brown & Root Industrial Services has been in the industry since the early 1900’s and built a legacy synonymous with excellence in providing full-service solutions for every project phase of industrial facilities across the globe. Brown & Root Industrial Services offers a full range of industrial services in industrial engineering, construction, maintenance, turnarounds, soft crafts, and specialty services. Led by a core leadership team with many years of valuable experience and a singular focus on customer service, Brown & Root Industrial Services works with companies in the downstream, refining, petrochemical, chemical, pulp and paper, alternative fuels, clean energy, and manufacturing industries to execute projects, solve challenges and achieve success. Learn more at www.brownandroot.com.

About Specialty Welding and Turnarounds

Founded in 2014, SWAT evolved into an elite and trusted provider of highly specialized turnaround services. SWAT maintains an industry-leading safety record, superior execution capabilities, and a wide range of services, including specialty welding, general mechanical, catalyst, and cooling tower services. Specialty Welding and Turnarounds (SWAT) is the leading provider of these highly technical services to the refining, petrochemical, and biodiesel industrial markets. Learn more at www.swatservice.com.

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