Squire Patton Boggs has acted as co-counsel to an affiliate of Veritas Capital Fund Management LLC, a leading New York private equity fund, on the acquisition of the capital services business of Chicago Bridge & Iron Company NV (CB&I), an engineering, procurement and construction corporation. The US$755 million deal is expected to close in the second quarter of 2017. The capital services business will be renamed and operated as an independent company upon closing.
CB&I's Capital Services business provides services for federal, state and local governments, the nuclear power industry, and industrial maintenance industry in the areas of operations and maintenance support services, environmental engineering and remediation, infrastructure engineering, and procurement and construction, among others. The business generated more than US$2 billion of revenue in 2016.
The Squire Patton Boggs team, led by Russell V. Randle in Washington DC, provided legal counsel on government contracts, nuclear materials licensing, engineering licensing and related issues. The team included Robert E. Gregg, Robert B. Webb, and Karen R. Harbaugh from the firm’s Northern Virginia office, John R. Sharp in Denver, and Danielle Gagliardi from the Columbus office.