AE Industrial Partners Acquires BHI Energy

BOCA RATON, Fla.–(BUSINESS WIRE)–AE Industrial Partners, LLC (“AEI”), a private equity investor in
aerospace, power generation and specialty industrial companies,
announced that it has acquired BHI Energy (“BHI”). Terms of the
transaction, which closed today, were not disclosed.

For more than 35 years, BHI has provided industry-leading specialty
services and staffing solutions to the power generation, energy and
government industries. BHI bundles its individual offerings into a fully
integrated platform, offering customers the quality of a specialty
services provider with the coordination and cost-savings of a fully
integrated service provider. Headquartered in Weymouth, MA, BHI’s
workforce includes more than 8,500 experienced project management and
technical, professional and craft employees operating at more than 130
global project locations.

“We are excited to work with the outstanding team at AEI, and benefit
from their deep and unique experience partnering with specialty service
providers in our end markets,” said Bob Decensi, CEO of BHI Energy. “BHI
is well-known for its commitment to safety, quality, customers and
employees. AEI brings additional expertise, relationships and financial
resources necessary to continue to grow our suite of service offerings
we can provide to our customer base.”

“With a long history in the nuclear power generation market, growing
service offerings in the renewables, transmission and distribution, and
oil & gas markets, and a sterling reputation for safety and quality, BHI
is truly a premier service provider in the power generation sector,”
said Michael Greene, Managing Partner of AEI. “AEI looks forward to
partnering with BHI to accelerate its growth in the U.S. power
generation and broader infrastructure markets.”

Kirkland & Ellis served as legal advisor to AE Industrial Partners.
White and Case served as legal advisor, and Robert W. Baird & Co. and
Harris Williams & Co. served as financial advisors to BHI.

BHI represents the fifth platform investment for AE Industrial Partners
Fund I.

About BHI Energy

With more than 35 years of experience, BHI Energy has provided a variety
of on-site specialty maintenance, radiation protection and staffing
services to the power-generation industry. BHI’s business model is
proven to build longstanding relationships with customers through the
alignment of operating objectives and the ability to help customers
effectively manage and service their assets across power generation, oil
& gas, and electricity transmission and distribution sectors. For more
information, please visit www.bhienergy.com.

About AE Industrial Partners

AE Industrial Partners, LLC is a leading private equity investor
specializing in control-oriented investments in aerospace, power
generation, and specialty industrial businesses and has strong
experience investing in businesses with similar capabilities and
end-market exposure as BHI. AEI invests in market-leading companies that
can benefit from its deep operating experience, industry knowledge, and
relationships. Learn more at www.aeroequity.com.

Contacts

Owen Blicksilver Public Relations
Carol Makovich, 203-622-4781
[email protected]
or
Jennifer
Hurson, 845-507-0571
[email protected]