June 30, 2017

Veritas Capital Completes Acquisition of Capital Services Business from CB&I

Veritas Capital, a leading private equity investment firm, today announced that an affiliate of Veritas Capital has completed the acquisition of the Capital Services business of CB&I (NYSE:CBI).

Capital Services is now operating as an independent company and will announce its new brand next week.

With approximately 15,000 employees deployed across hundreds of offices and customer sites globally, the Capital Services business provides comprehensive and integrated maintenance services, environmental engineering and remediation, infrastructure EPC services, program management, and disaster response and recovery for private sector and government customers.

The business serves a diverse mix of commercial customers in the power, oil & gas, chemical, manufacturing and retail sectors. Government customers include U.S. federal departments and agencies such as the DoD, DoE, FEMA and EPA, as well as state and local governments. The business generated more than $2 billion of revenue in 2016.

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, government services, 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.


Veritas Capital:

Andrew Cole/Patrick Scanlan

Sard Verbinnen & Co