Oaktree buys MHW Constructors


Oaktree Capital Management LP has acquired Broomfield, Colorado-based MWH Constructors, a global construction firm focused on water and energy. No financial terms were disclosed for the transaction that was done in partnership with MWH’s management.

PRESS RELEASE

BROOMFIELD, Colo.–(BUSINESS WIRE)–MWH Constructors (“MWH” or the “Company”), a leading global construction firm focused on water and energy, announced today that is has been acquired by funds managed by Oaktree Capital Management, L.P. (“Oaktree”) in partnership with MWH’s management. The acquisition encompasses all MWH operations in North America and the United Kingdom, including global engineering, procurement, construction operations, and construction management services.

With a history dating back to 1820, MWH employs over 2,200 across its divisions, including Slayden Constructors, Inc. and MWH Treatment in the United States and United Kingdom, respectively. MWH provides world-class turnkey construction, construction management services, and design-build solutions for owners of water and wastewater infrastructure. The Company is a global leader in the implementation of thermal hydrolysis process projects.

“This is an exciting development for MWH Constructors and our very talented and dedicated employees around the globe,” said Blair Lavoie, Chief Executive Officer and President of MWH. “We have worked hard to grow a world-class portfolio of water and wastewater infrastructure projects, and our partnership with Oaktree will enable us to further improve and expand our services to our customers. With the additional resources of this new partnership, our future is bright.”

Jimmy Lee, Senior Vice President at Oaktree, commented, “We are thrilled to have partnered with MWH Constructors and its talented management team. MWH is recognized as a global leader in developing and executing some of the most technically advanced project delivery solutions for water and wastewater infrastructure construction. Together with management, we are committed to expanding MWH’s talent, resources, and capabilities to continue to support the global infrastructure needs of the Company’s customers.”

MWH Constructors was internationally ranked as the No. 1 contractor in wastewater treatment and the No. 3 contractor in sewer and waste by Engineering News-Record in 2017. Current large-scale project work in the United States includes a $939 million wastewater project with the San Francisco Public Utilities Commission, a $196 million contract with the Trinity River Authority of Texas, a $135 million project for a new wastewater treatment facility with the City of Logan, Utah, and a $100 million replacement project with Denver Water. Additionally, MWH Constructors worked with the City of Austin on a $379 million water treatment plant and pump station project, the City of Cape Coral on its $872 million expansion projects, and Severn Trent Water on its Minworth Thermal Hydrolysis Plant project.

About MWH Constructors
MWH Constructors is a global project delivery company with a focus on water and energy. With the ultimate goal of delivering maximum value to clients and their local communities, MWH Constructors provides single-source, integrated design and construction services and a full range of project delivery methods. Incorporating industry-leading preconstruction services and safety practices, the Company’s multi-disciplined team of engineering and construction professionals delivers a wide range of projects, including new facilities, infrastructure improvement and expansion, and capital construction services. For more information, visit www.mwhconstructors.com or connect on Twitter @MWHConstructors and Facebook www.facebook.com/MWHConstructors/.

About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $124 billion in assets under management as of September 30, 2018. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets, and listed equities. The firm has over 900 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.

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