Mason Capital-Led Consortium Acquires CB&I from McDermott
December 9, 2024
A consortium of financial investors led by Mason Capital Management has completed the all-cash acquisition of CB&I, the storage facilities, tanks and terminals business formerly owned by McDermott. McDermott will receive $475 million of proceeds before taxes and transaction expenses; CB&I will operate as a standalone company with no funded debt and a mandate to pursue growth in energy and industrial storage markets.
- Buyers
- Mason Capital Management LLC, IES Holdings, Inc., Nut Tree Capital Management, LP, 683 Capital Management, LLC, First Pacific Advisors
- Targets
- CB&I
- Sellers
- McDermott International, Ltd
- Industry
- Infrastructure
- Location
- Texas, United States
- Transaction Type
- Divestiture
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