Veritas Capital Rebrands Former CB&I Capital Services Business as APTIM and Names Gary Baughman CEO

NEW YORK–(BUSINESS WIRE)–Veritas Capital, a leading private equity firm, today announced the
rebranding of its recently acquired portfolio company, CB&I’s Capital
Services business, to APTIM. The company is a global provider of
asset-related services to the power, industrial, oil and gas, commercial
and government markets.

As part of this transition, Gary C. Baughman has been appointed Chief
Executive Officer and member of the Board of Directors. Mr. Baughman
brings more than 30 years of industry experience to the role, having
served in a variety of leadership capacities with some of the largest
global engineering, construction and maintenance companies in the world.
E. Chip Ray, former President of Capital Services, will remain a senior
advisor to the company through the end of 2017.

“We are delighted to welcome Gary to the team at APTIM,” said Ramzi
Musallam, CEO and Managing Partner of Veritas Capital. “With a passion
for talent management and organizational development, Gary has been a
driving force behind cultural transformation, leadership advancement,
and strategic business expansion across many enterprises. As we look to
aggressively expand this platform, Gary will be responsible for driving
market growth, service diversification, and technology implementation
while ensuring that the integrity of customer service, so well-developed
within the former Capital Services business, remains uncompromised.”

“Having decades of deep customer relationships and an extensive track
record of reliable performance on some of the most complex project
engagements, this team is clearly incredibly talented,” said Mr.
Baughman. “What we want to do now is leverage the company’s proven
delivery platform into new market segments and geographies and integrate
new products and services that can bring increasing value to our
customers, who are looking for dependable business partners with a
passion for service.”

Mr. Baughman has extensive experience leading firms with broad service
and geographic offerings. His most recent post was as CEO Americas for
M+W Group, a global EPCM provided to the advanced technology market.
Previously, he held leadership and technical positions with AECOM, Wood
Group, Washington Group International, and Fluor. He earned his
bachelor’s degree in Accounting from Clemson University.

About APTIM

APTIM is a leading global provider of integrated maintenance services,
environmental engineering and remediation, infrastructure EPC services,
program management, and disaster response and recovery for private
sector and government customers.

About Veritas Capital

Veritas Capital is a leading private equity firm that invests in
companies that provide critical products and services, primarily
technology and technology-enabled solutions, to government and
commercial customers worldwide, including those operating in the
aerospace & defense, healthcare, technology, national security,
communications, energy, and education industries. Veritas seeks to
create value by strategically transforming the companies in which it
invests through organic and inorganic means. For more information on
Veritas Capital and its current and past investments, visit www.veritascapital.com.

Contacts

APTIM:
Liza Kelso
[email protected]
Or
Veritas
Capital:
Andrew Cole/Patrick Scanlan
212-687-8080