Bernhard Capital Exits EPIC Piping, Realizing Fund I

Bernhard Capital Partners has successfully divested its stake in United WELD Holdings (UWH), the parent entity of prominent pipe fabrication specialist EPIC Piping and its subsidiary BendTec. This strategic exit marks the complete realization of the firm's initial investment vehicle, Bernhard Fund I, underscoring a significant milestone in the private equity firm's growth trajectory. The transaction saw One Equity Partners acquire UWH, signaling continued investor confidence in the industrial services sector.

The sale of EPIC Piping represents the culmination of a value creation strategy initiated by Bernhard Capital Partners since its inception. What began as a greenfield endeavor has been meticulously cultivated into a global leader in pipe fabrication. This platform now serves critical segments of the energy, infrastructure, and industrial markets worldwide. The acquisition of BendTec during Bernhard's stewardship significantly enhanced EPIC's capabilities, adding advanced induction bending expertise and broadening its service portfolio to meet complex project demands.

Mark Spender, Partner and Chief Investment Officer at Bernhard, highlighted the journey: "EPIC Piping has been integral to Bernhard's narrative. Its evolution into a premier global pipe fabrication platform is a testament to the dedication of its team and our shared commitment to superior quality and execution. This sale not only fully realizes our inaugural fund but also reflects the substantial progress Bernhard has achieved since its founding. We are immensely proud of the strong returns delivered to our investors and the robust businesses we've helped build."

The industrial fabrication sector, particularly for large-scale infrastructure and energy projects, has demonstrated resilience and consistent demand. Companies like EPIC Piping, with their specialized capabilities in handling complex materials and stringent project timelines, are well-positioned to capitalize on global energy transition initiatives and ongoing infrastructure development. The market for pipe fabrication services is projected to grow, driven by investments in oil and gas, petrochemicals, and renewable energy infrastructure, creating a favorable environment for such strategic exits.

With the closing of the UWH transaction, Bernhard Capital Partners has now fully exited all investments from its Fund I, which was established in 2014. This initial fund laid the groundwork for the firm's investment philosophy, which focuses on building market-leading infrastructure services and asset platforms. Notable prior successes from Fund I include strategic investments in companies such as Brown & Root Industrial Services, ENFRA, and Atlas Technical Consultants, demonstrating a consistent ability to identify and nurture high-potential businesses within essential sectors.

Bernhard Capital Partners, managing over $6 billion in assets, continues to pursue a disciplined investment strategy across complex and regulated markets characterized by durable demand. Their approach combines thematic investing with deep sector knowledge and operational expertise to scale platforms and drive long-term growth, aiming for consistent performance across market cycles.