Brown & Root Industrial Services Acquires Specialty Welding and Turnarounds (SWAT)

One Equity Partners Invests in Brown & Root Industrial Services

October 6, 2025

Industrial Services

One Equity Partners has entered into an agreement to acquire Bernhard Capital Partners’ (BCP) stake in Brown & Root Industrial Services, a KBR‑backed provider of industrial engineering, construction and maintenance services. BCP said the sale closed in October 2025; financial terms were not disclosed. Brown & Root operates across the U.S., Mexico and Canada with more than 22 locations and employs over 10,000 people.

Specialty Welding and Turnarounds Acquires Midwest Cooling Tower Services from Dorilton Capital

December 20, 2021

Industrial Services

Specialty Welding and Turnarounds (SWAT), a portfolio company backed by ORIX Capital Partners and Hastings Equity Partners, has acquired Midwest Cooling Tower Services (MWCTS) from Dorilton Capital. The acquisition adds mission-critical cooling tower inspection, maintenance, repair, parts distribution and rental capabilities to the SWAT platform; Midwest is headquartered in Krotz Springs, Louisiana and employs approximately 450 people.

Mason Wells Acquires SWAT Group, Inc.

January 1, 2022

Environmental Services

Mason Wells, a Milwaukee-based private equity firm, has acquired SWAT Group, Inc., a radon mitigation and vapor intrusion remediation services provider founded in 1988. SDR Ventures served as exclusive sell-side advisor; SWAT operates in 33 states with over 120 field installation technicians and will be consolidated under Mason Wells to support growth and scaling.

Thorpe Specialty Services Acquires Walburn Industrial Services, LLC

May 3, 2024

Industrial Services

Thorpe Specialty Services, a Houston-based industrial specialty services provider backed by KLH Capital, has acquired Walburn Industrial Services of McCalla, Alabama. The add-on expands Thorpe's geographic footprint and refractory capabilities, and the combined organization will exceed 1,300 team members across multiple U.S. regions and Canada.

Brookside Capital Partners and Mason Wells Provide Growth Capital to SWAT Environmental

October 16, 2024

Environmental Services

Brookside Capital Partners has invested in SWAT Environmental, partnering with Mason Wells to provide subordinated debt to accelerate the company's growth and market expansion. SWAT Environmental, founded in 1988, is the largest radon mitigation services firm in the United States and serves customers across more than 30 states.

CAM Industrial Solutions Acquires Worley's North American Maintenance, Turnaround and Power O&M Businesses

May 26, 2023

Industrial Services

CAM Industrial Solutions, a portfolio company backed by Cross Rapids Capital, completed the acquisition of Worley’s North American maintenance and turnaround business and Worley’s power operations and maintenance business. The combination creates a scaled industrial services platform with pro forma revenue of about $800 million and more than 5,000 employees, expanding CAM’s maintenance, turnaround and power O&M capabilities across North America.