Platform’s Third Acquisition Expands Leading Network of Technical Engineering and Consulting Service Providers for Mission Critical Clients
BATON ROUGE, La., April 16, 2024 /PRNewswire/ — Bernhard Capital Partners (“Bernhard Capital”), a services and infrastructure-focused private equity management firm, today announced its dedicated Department of Energy (“DOE”) services platform has acquired Strategic Management Solutions, LLC (“SMSI”), a leading provider of expert management and technical consulting services for federal and large industrial clients focused on nuclear programs and projects. Financial terms of the transaction were not disclosed.
Founded in 1999 and headquartered in Albuquerque, New Mexico, SMSI provides a range of program management and project services to the DOE, National Nuclear Security Administration (“NNSA”), National Laboratories and industrial clients that operate within the Nuclear Security Enterprise. The Company’s key business lines include procurement and supply chain expertise, special nuclear material and high hazard operations, decontamination and demolition, and project delivery and integration services (e.g., engineering, project management, project controls) focused on supporting clients with national security, environmental management, and large infrastructure initiatives. Today, SMSI staff numbers over 400 highly qualified professionals in four Company offices and numerous DOE and NNSA sites.
SMSI is the DOE and NNSA services platform’s third acquisition. Established by Bernhard Capital in 2022 through the acquisitions of Boston Government Services, LLC (“BGS”) and Sterling Engineering & Consulting Group, LLC (“SE&C”). Working collaboratively, the companies aim to provide vertically integrated capabilities and support for customers across the country executing critical projects in complex environments – ranging from strategic planning and program management to the implementation of critical engineering and technical activities.
“The addition of SMSI strengthens the mission-critical capabilities and further positions our growing national platform as a go-to resource for essential consulting, program management, engineering, procurement, safety and field services within the DOE Complex and National Security Enterprise,” said Chris Dillon, Partner at Bernhard Capital. “With over two decades successfully supporting high technology projects for critical national security missions, SMSI brings expanded capabilities, valuable industry relationships and a highly skilled team of industry experts and security-cleared staff that will support our platform’s vertical integration across critical DOE-related services. We look forward to partnering with the SMSI team to support the long-term success of the business and its world-class team.”
SMSI will continue to be led by SMSI President Matt Nuckols and the current leadership team, while benefiting from the advantages and resources of Bernhard Capital’s strategic partnership and dedicated DOE services platform.
Mr. Nuckols said, “This transaction will enable SMSI to enhance our exceptional track record as a mission enabler for our customers, while also creating new partnership opportunities. I look forward to working with Bernhard Capital, BGS and SE&C leadership to continue to ensure SMSI is both an employer of choice, as well as a reliable and essential partner for our customers.”
“Since I founded SMSI 23 years ago, the Company has grown into a significant services organization for our clients’ missions, and I am excited for this next chapter,” said Lee Bernstein, Founder and Chairman of SMSI. “I am confident that, as part of this best-in-class platform, we will capitalize on a number of exciting opportunities to continue to grow our business and expand the support we provide for customers, all while maintaining our unique corporate culture and professional ethics.”
David O’Flynn, who will assume an Executive Director role for the platform, said, “We are pleased to join Bernhard Capital’s dedicated DOE platform and are excited to work together and build on SMSI’s momentum and reputation as a partner of choice for customers within the DOE, NNSA and other federal markets. This partnership will also provide growth opportunities and continued stability for our exceptional SMSI team, who are essential to our mission and ability to deliver outstanding results for customers.”
About Bernhard Capital Partners
Bernhard Capital Partners is a services and infrastructure-focused private equity management firm established in 2013. Bernhard Capital Partners has deployed capital in four funds across several strategies and has approximately $3.6 billionof gross assets under management. Bernhard Capital Partners seeks to create sustainable value by leveraging its experience in acquiring, operating and growing services and infrastructure businesses. For more information, visit www.BernhardCapital.com.
About SMSI
SMSI is a project solutions business that provides management, technical and engineering services to the Department of Energy, National Nuclear Security Administration, National Laboratories and industrial clients. The Company’s key business lines include procurement and supply chain expertise, special nuclear material & high hazard operations, decontamination and demolition and project delivery and integration services. SMSI is focused on supporting clients with national security, environmental management, and large infrastructure initiatives. Established in 1999, SMSI is headquartered in Albuquerque, NM and currently operates at four company offices and numerous DOE and NNSA sites.
