AE Industrial Partners has acquired BHI Energy from Harvest Partners LP. No financial terms were disclosed. Headquartered in Weymouth, Massachusetts, BHI Energy is a provider of specialty maintenance and staffing services for the power-generation industry.
Harvest Partners, LP (“Harvest”), a New York-based private equity firm, announced today that it has completed the sale of BHI Energy, Inc. (“BHI Energy” or the “Company”) to AE Industrial Partners, a Florida-based private equity firm. Terms of the transaction were not disclosed.
For over 35 years, BHI Energy has provided critical on-site services necessary to support the daily operations, routine maintenance and capital investment requirements for the power generation, oil & gas and electricity transmission & distribution end markets. The Company’s broad service offering enables it to be an embedded provider of choice to a diverse customer base comprised of blue-chip utility and energy companies. The Company’s service offering includes highly specialized maintenance services, full-service radiation protection services and staffing solutions.
Michael DeFlorio, Senior Managing Director of Harvest Partners, said: “We enjoyed working closely with Bob Decensi and the BHI Energy executive team to build a market leading provider of specialty services in the utility and energy sectors. We look forward to watching the Company continue to flourish as it enters a new phase of development in partnership with AE Industrial Partners.”
Bob Decensi, CEO of BHI Energy, said: “Harvest has been an exceptionally supportive partner, delivering valuable financial and operational guidance that leaves us well-positioned as we move into our next phase of growth.”
About BHI Energy
With more than 35 years of experience, BHI Energy provides a variety of on-site specialty maintenance and staffing services to the power-generation industry. BHI has built longstanding relationships with customers through aligning operating objectives and helping them effectively manage and service their assets. For more information, please visit www.bhienergy.com.
About Harvest Partners
Founded in 1981, Harvest Partners is a leading New York-based private equity investment firm pursuing management buyouts and recapitalizations of middle market companies in North America. Harvest focuses on acquiring profitable companies in the industrial services, manufacturing and distribution, business services and consumer, and healthcare services sectors. This strategy leverages Harvest Partners’ 35 years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit www.harvestpartners.com.