This post is by Iris Dorbian from PE Hub Blog: Buyout Deals
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Bernhard Capital-led investor group has acquired a stake in Louisiana-based The Lemoine Company, a construction management firm. No financial terms were disclosed.
BATON ROUGE, La., May 15, 2019 /PRNewswire/ — A group of investors led by Bernhard Capital Partners Management, LP (“Bernhard Capital”), a services-focused private equity management firm, today announced it has acquired a financial interest in The Lemoine Company.
Based in Louisiana, The Lemoine Company is one of the most respected full-service construction management firms in the country, with expertise in disaster recovery, community resilience and sustainability.
“We are very excited about the addition of The Lemoine Company to our private equity portfolio, particularly when you consider the reputation the company has established for itself as a leader in the construction management and community resilience industries,” said Jim Bernhard, partner at Bernhard Capital. “We look forward to working with The Lemoine Company’s world-class
team to further their commitment to excellence, quality and customer service across current and future customers and markets.”
Lenny Lemoine will continue to serve as president and chief executive officer of The Lemoine Company. Additionally, the existing leadership team will remain in place and work collaboratively with Bernhard Capital to identify additional acquisition opportunities that complement Lemoine’s existing core competencies through new service lines, geographies and end markets.
“This investment provides our company, our employees and our customers with tremendous growth opportunities,” said Lenny Lemoine. “Our customers, many of whom we have partnered with for decades, will continue to see the same quality they have grown to expect from us combined with the capital and operational resources of Bernhard Capital to help fuel our expansion.”
The leadership of Bernhard Capital and The Lemoine Company have a history of partnering together over the past several decades.
The transaction was finalized on May 15, 2019. Today, the worldwide portfolio companies of Bernhard Capital employ more than 18,000 people, including approximately 375 employees at The Lemoine Company.
ABOUT THE LEMOINE COMPANY
The Lemoine Company is one of the most respected full-service general contracting and construction management firms in the nation, constructing and managing projects ranging from minor interior renovations to some of the most complex commercial, education, healthcare, public and industrial landmarks. The company has received industry acclaim on a local, regional and national level for excellence in construction and its commitment to safety. For more information, visit www.lemoinecompany.com.
ABOUT BERNHARD CAPITAL PARTNERS
Bernhard Capital Partners (“Bernhard Capital”) is a services-focused private equity management firm established in 2013 by Jim Bernhard, Jeff Jenkins and a team of experienced private-equity professionals. Bernhard Capital seeks to create sustainable value by leveraging its founding partners’ experience in acquiring, operating and growing services businesses. From strategic industry insight to operational efficiencies and best-practice management, Bernhard Capital looks to provide resources far beyond its investments. Bernhard Capital portfolio companies include Atlas Technical Consultants, Bernhard Energy Solutions, Brown and Root, Charah Solutions, Epic Piping, The Lemoine Company and United Utility.