Bernhard, a Metairie-based energy services firm, said Tuesday that Rob Guthrie had taken over from Ed Tinsley as the company’s chief executive officer in a planned leadership transition.
Tinsley had been CEO of the company since 2018. He oversaw the sale of a majority stake in the Bernhard by parent company, Baton Rouge-based private investment firm Bernhard Capital Partners, to DIF Capital Partners, a private investment firm headquartered in Amsterdam, Netherlands, in 2021. The sale price wasn’t disclosed.
Guthrie had been serving as Bernhard’s chief development officer and CEO-in-waiting since 2021. He has more than 20 years of industry experience
Bernard was founded in Baton Rouge in 1919 as a plumbing company by William Bernhard, later expanding into electrical and mechanical engineering and other areas to become a major Louisiana contracting firm.
The founder’s grandson, Jim Bernhard, used Bernard as a cornerstone of his Bernhard Capital Partners. He founded Bernhard Capital Partners in 2013 after selling The Shaw Group, a firm specializing in piping and other products for the energy industry, for $3 billion. Bernhard Capital has about $3.6 billion invested in a wide range of companies, including the Lemoine construction group, various utility operators and energy infrastructure companies.
Growth spurt
Under Bernhard Capital Partners’ ownership, Bernard specialized in providing energy as a turnkey service for clients like hospitals and universities. It grew organically and through several acquisitions to become the largest private energy-as-a-service company in the country by the time it was sold to DIF Capital three years ago.
As a private company, Bernhard doesn’t disclose financial information. A company spokesperson said Tuesday the number of its major energy-as-a-service contracting clients has grown from 15 when it was sold in October 2021 to 25.
In a news release Tuesday, Bernhard said that earnings under Tinsley had grown 310%, or 25% a year for his each of his six years in charge. The company said it has 2,200 full-time employees at 20 locations throughout the country.