Bernhard Capital Partners has agreed to sell United WELD Holdings — the parent company of EPIC Piping and BendTec — to One Equity Partners in a transaction expected to close by the fourth quarter of 2026. Financial terms were not disclosed. Kirkland & Ellis served as legal advisor to Bernhard on the transaction.
EPIC Piping is one of the largest privately owned pipe fabrication and distribution companies in the world, serving critical infrastructure, energy, and industrial markets globally. The business was established by Bernhard as a greenfield investment — built from the ground up rather than acquired as an existing platform — making the exit a particularly significant milestone for the firm. Over the course of its ownership, Bernhard and EPIC’s management team scaled the company into a pure-play pipe fabrication platform of considerable scale. The addition of BendTec, acquired during Bernhard’s holding period, layered in induction bending capabilities that broadened EPIC’s service offering and addressable customer base.
Bernhard Capital Partners, headquartered in Baton Rouge and managing more than $6 billion in assets, focuses on infrastructure services and asset platforms in complex, often regulated markets. The firm’s roots in the energy and industrial services sectors gave it a particular conviction in pipe fabrication as a long-term infrastructure need — a thesis that the EPIC build-out was designed to validate. One Equity Partners, the buyer, is a middle-market private equity firm with a history of investing in industrial and infrastructure-oriented businesses.
KEY QUOTES:
“Since our founding, Bernhard has been much more than an investor — they’ve been a true partner in building this business. From the earliest days of EPIC, the Bernhard team shared our vision and consistently provided the guidance, expertise and long-term support to help us grow. We’re grateful for their partnership over the years and excited to begin the next chapter.”
Remi Bonnecaze, CEO, EPIC Piping
“This realization marks a significant milestone for our firm. EPIC has been one of our defining investments and an important part of Bernhard’s story. Pipe fabrication is deeply rooted in our heritage, giving us a unique understanding of the industry and confidence in the company’s long-term potential. We are incredibly proud of what the team has accomplished and believe EPIC is well positioned for continued success.”
Mark Spender, Partner and Chief Investment Officer, Bernhard Capital Partners
