July 05, 2017

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

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.


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.



Liza Kelso

[email protected]


Veritas Capital:

Andrew Cole/Patrick Scanlan