Black & Veatch Acquires Bird Electric
Black & Veatch has acquired Bird Electric Enterprises and Bird Electric Properties both part of BASElectric Holdings, LLC (collectively known as Bird Electric). The agreement accelerates the growth of both companies by combining key industry engineering, construction, and procurement talent and business-enabling resources.
Bird Electric is a U.S. self-perform electrical construction services provider to electric utility clients with a national reach in emergency power restoration – a key area Black & Veatch is focused on growing. Bird, with 600+ employees, also has long-established relationships with fuels producers, and its capabilities are relevant and applicable to other adjacent linear and distributed construction markets and solutions that Black & Veatch serves.
“The addition of Bird Electric and their operations is a historic event that builds upon Black & Veatch’s world-class capabilities and integrated solutions offerings,” said Mario Azar, Black & Veatch Chairman & CEO. “It also aligns to both companies’ vision to expand our solutions in the markets we serve, bring construction capabilities to a wider client base and provide broader career and personal growth opportunities to our professionals – all opening the door to an exciting future.”
Bird Electric will operate as a Black & Veatch Company with enhanced capabilities and reach in the growing Grid Solutions market – both new T&D infrastructure and restoration – and will also operate in adjacent linear and distributed infrastructure markets and solutions such as EV charging, renewables, and connectivity. Driven by the global push for decarbonization and sustainability, those markets and solutions are amongst the highest potential, making the investment timely and poised to produce greater value to the company and its employee-owners.
“Our companies existing strong relationships, having worked together in a collaborative manner with services provided for several utility clients, creates great opportunities to expand the reach and apply the knowledge we have gained working together to meet clients’ growing demands in new markets,” said Brian Bird, Bird Electric founder and now President of Bird Electric, a Black & Veatch Company.
The structure of the agreement includes Bird Electric joining BV as part of the company’s Grid Solutions portfolio within the Energy & Process Industries (E&PI) sector. It will also align with BV Operations for best practices and as a construction resource for all other relevant BV solutions.
Advisors for the agreement were Husch Blackwell LLP as legal advisor and BNP Paribas Securities Corp. as financial advisor for Black & Veatch and Capstone Partners as financial advisor and Wick Phillips as legal advisor for Bird Electric. Financial terms of the transaction are not being disclosed.
