FOR IMMEDIATE RELEASE – April 15, 2024
SMSI Acquired by Bernhard Capital Partners’ Department of Energy (DOE) Services Platform
SMSI Expands Platform’s Network of Technical Engineering and Consulting Service Providers for Mission Critical Clients
ALBUQUERQUE, New Mexico, April 15, 2024 – Strategic Management Solutions, LLC (“SMSI”) announced today that it has been acquired by Bernhard Capital Partners (“Bernhard Capital”), a services and infrastructure-focused private equity management firm. SMSI, a leading provider of expert management and technical consulting services for federal and large industrial clients, is the third acquisition of Bernhard Capital’s dedicated Department of Energy (“DOE”) services platform.
In an announcement to employees, Lee Bernstein, Founder and Chairman of SMSI, said, “Bernhard Capital intends to build a best-in-class organization for the DOE and SMSI wants to be part of that organization. We determined that our association with Bernhard Capital, their holdings, and their strategy, offers SMSI employees opportunity and security.”
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 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.
Established by Bernhard Capital in 2022 through the acquisitions of Boston Government Services, LLC (“BGS”) and Sterling Engineering & Consulting Group, LLC (“SE&C”), the DOE services platform aims 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 production activities.
SMSI will continue to be led by SMSI President Matthew Nuckols and the current leadership team, while benefiting from the advantages and resources of Bernhard Capital’s strategic partnership and dedicated DOE services platform. “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 the Bernhard Capital, BGS, SE&C leadership teams to continue to ensure SMSI is both an employer of choice, as well as a reliable and essential partner for our customers.”
SMSI Chief Executive Officer David O’Flynn, who will be assuming 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.”
“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, who transitions to a Consultant for Bernhard Capital and will focus on strategy.
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. Established in 1999, SMSI is headquartered in Albuquerque, NM and currently operates at four company offices and numerous DOE and NNSA sites. For more information, visit www.smsi.us.
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 billion of 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.
Contacts
Media
Amy Nuckols
(505) 662-5209