Brown & Root Industrial Services to Acquire Specialty Welding and Turnarounds, Creating a North American Industry Leader
One Equity Partners (“OEP”), a middle-market private equity firm and joint venture partner with KBR in Brown & Root Industrial Services, today announced that its portfolio company, Brown & Root Industrial Services (“Brown & Root”), has signed a definitive agreement to acquire Specialty Welding and Turnarounds (“SWAT”), a leading provider of turnaround, cooling tower, and industrial catalyst services.
This transformative transaction positions Brown & Root Industrial Services as one of the largest specialty welding and turnaround service providers in North America, significantly enhancing its scale, capabilities, and market reach. Financial terms of the private deal were not disclosed.
SWAT: A Leader in Industrial Services
Founded in 2014 and headquartered in Gonzales, Louisiana, SWAT has rapidly become a premier provider of critical industrial solutions across the United States. The company specializes in specialty welding, mechanical, cooling tower, and catalyst services, serving a blue-chip customer base in the refining, petrochemical, and renewables sectors.
SWAT operates across 22 states and maintains a robust network of 32,000 highly skilled professionals, delivering high-quality, reliable services that support some of the most complex and demanding industrial operations in the country.
Through its focus on safety, efficiency, and technical excellence, SWAT has earned a reputation for reliability and performance—attributes that align closely with Brown & Root’s core values and operating philosophy.
A Strategic Combination for Growth and Scale
“This is a proud moment for both organizations,” said Andy Dupuy, Chief Executive Officer of Brown & Root Industrial Services. “We’re thrilled to join forces with SWAT, a highly respected leader in our industry. This strategic acquisition enhances our ability to serve customers by addressing growing market challenges—from skilled labor shortages to increasing equipment complexity—while continuing to deliver cost-efficient, reliable solutions across critical end markets.”
The acquisition broadens Brown & Root’s exposure across a range of industries, particularly strengthening its position in the refinery and renewables markets. It also significantly expands the company’s customer base, enabling greater cross-selling opportunities and operational synergies.
Additionally, the combined organization will benefit from an improved financial profile through enhanced scale and efficiency, positioning Brown & Root for continued long-term growth and profitability.
OEP’s Strategic Vision and Investment Approach
According to Ante Kusurin, Partner at One Equity Partners, the transaction underscores OEP’s strategy of executing transformative combinations that strengthen platform investments and create market-leading businesses.
“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 Kusurin. “By combining their complementary strengths, these companies are positioned to operate as a unified industry leader—delivering enhanced value to customers and driving sustainable growth for the combined business.”
OEP’s investment philosophy focuses on creating long-term value by identifying synergistic opportunities within its portfolio and executing combinations that expand capabilities and market presence. The Brown & Root–SWAT transaction exemplifies this approach by merging two highly complementary industrial service providers with aligned cultures and a shared commitment to safety, quality, and customer satisfaction.
KBR’s Perspective on the Transaction
Stuart Bradie, President and Chief Executive Officer of KBR, highlighted how the acquisition aligns with Brown & Root’s strategic direction and strengthens its operational base.
“The addition of SWAT expands Brown & Root Industrial Services’ capabilities and exposure to the OpEx market across energy security assets,” said Bradie. “This combination delivers highly valued specialty solutions to customers’ critical assets, enhances the company’s customer base, and increases its exposure to the refinery and renewables sectors. It also opens the door to meaningful cross-selling opportunities and is expected to generate operational efficiencies that improve the overall financial strength of the business.”
KBR, a global leader in technology, engineering, and government solutions, remains a strategic partner to Brown & Root through their joint venture, supporting its continued growth across industrial and infrastructure markets.
SWAT’s Perspective: A Partnership for the Future
Shane Bellanger, Chief Executive Officer of Specialty Welding and Turnarounds, emphasized the mutual benefits of the combination and the alignment between the two companies’ cultures.
“Brown & Root Industrial Services’ proven reliability, safety record, and customer focus make it the ideal long-term partner for our business,” said Bellanger. “Together, we can offer a broader suite of capabilities and a truly comprehensive industrial services platform. This allows customers to consolidate vendors, reduce administrative complexity, and streamline project execution with greater confidence and consistency.”
The combined organization will deliver end-to-end industrial services across maintenance, turnaround, and specialty project execution—creating a single, integrated partner for clients across energy, chemical, and renewables industries.
Advisors
- Brown & Root Industrial Services is receiving legal counsel from Baker McKenzie.
- One Equity Partners is being advised by Sidley Austin LLP (legal), Arnovia (commercial), and KPMG (financial).
- Specialty Welding and Turnarounds (SWAT) is receiving legal counsel from Kirkland & Ellis LLP and financial advice from Lazard.
About One Equity Partners
One Equity Partners (OEP) is a middle-market private equity firm focused on building market-leading companies in the industrial, healthcare, and technology sectors across North America and Europe. OEP specializes in identifying and executing transformative business combinations that create scale and long-term value.
Founded in 2001 and spun out of JPMorgan in 2015, OEP has completed more than 500 transactions worldwide. The firm’s experienced team, disciplined investment process, and partnership-driven approach make it a trusted collaborator for management teams seeking to accelerate growth and achieve operational excellence.
OEP maintains offices in New York, Chicago, Frankfurt, and Amsterdam.
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
About Specialty Welding and Turnarounds (SWAT)
Headquartered in Gonzales, Louisiana, Specialty Welding and Turnarounds (SWAT) provides specialty welding, mechanical, cooling tower, and catalyst services for the refining, petrochemical, and renewables industries. With a workforce of over 32,000 skilled professionals across 22 states, SWAT is recognized for its commitment to safety, quality, and performance in executing complex industrial projects.\
