The Shaw Group

Last updated
The Shaw Group's new headquarters are housed in Chasewood Crossing in Houston, TX. Theshawgrouphouston.jpg
The Shaw Group's new headquarters are housed in Chasewood Crossing in Houston, TX.
The Shaw Group
Founded1983
FounderJ.M. Bernhard Jr.
Oscar J.LaFleur
A.W. Angelo
Headquarters Houston, TX
Key people
Mike Childers (CEO)

Sachin Singh (COO)

Andrew Cannon (CFO)

The Shaw Group is an industry leader of pipe and module fabrication specializing in induction bending. The company is recognized for having the resources to deliver complex fabrication solutions to mitigate risks and reduce overall cost of field construction.

Contents

Headquartered in Houston, Texas, Shaw employs approximately 700 people across its offices and operations in North America and the Middle East.

Shaw’s global footprint includes 2 million square feet of state-of-the-art fabrication facilities equipped with the latest manufacturing technology and production management systems to ensure project success. Shaw leverages its unique expertise, specialized equipment and advanced capabilities to engage customers that value safety and technical excellence.

History

Shaw was founded in 1986 by J.M. Bernhard Jr., Oscar J.LaFleur, and A.W. Angelo as a fabrication shop. The company was originally known as Shaw Industries Inc. Shaw grew by acquiring stock of Alloy Piping Products, Fronek A/DE, Inc, Naptech, Inc., Pipe Shields Inc., United Crafts, Inc., Merit Industrial Constructors, Inc., Cojafex B.V., Prospect Industries plc, joined with Entergy Corporation to create EntergyShaw L.L.C., Stone & Webster Inc., IT Corporation, Envirogen, Inc., MWR, Inc., Badger Technologies from Washington Group International, and Energy Delivery Services from Duke Energy Global Markets, Inc.

In 2006 the company acquired a 20% interest in the Westinghouse Electric Company, the rest majority owned by Toshiba. In September 2011, Toshiba was reported to be in talks to acquire the Shaw stake. [1] Toshiba is paying $1.6 billion for the 20% stake under a Shaw-owned option, Shaw CEO J.M. Bernhard Jr. said. Shaw said it was the 50% rise in the yen on its yen-denominated debt over five years which led it to exercise its sale option. The option was part of the 2006 purchase terms. [2] The transaction was completed in January 2013, and brought Toshiba's stake in Westinghouse to 87%. [3]

In July 2012 CB&I agreed to buy Shaw for approximately $3 billion. [4] In December 2012 shareholders from both companies approved the transaction and it officially closed in February 2013. [5] [6] [7]

In January 2020 McDermott filed for Chapter 11. [8] On June 1, 2020 it was announced that McDermott has sold the former Shaw Group's pipe fabrication assets to Shaw Acquisitions Holdings LLC for an unknown price. The assets include pipe fabrication, piping, structural steel fabrication, mechanical assembly, and modularization subsidiaries. [9] In this transaction, Shaw Acquisitions Holdings LLC received seven facilities located in Walker and Lake Charles, Louisiana; El Dorado, Arkansas; Laurens, South Carolina; Clearfield, Utah; Abu Dhabi, UAE; and Askar, Bahrain. "As part of the deal, Shaw also acquired rights to The Shaw Group trademark" [10]

The Shaw Group has moved its headquarters from Baton Rouge, LA to Houston, TX. The CEO is Mike Childers, COO is Sachin Singh, and CFO is Andrew Cannon. [11]

See also

Related Research Articles

Toshiba Japanese electronics conglomerate

Toshiba Corporation is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Its diversified products and services include power, industrial and social infrastructure systems, elevators and escalators, electronic components, semiconductors, hard disk drives (HDD), printers, batteries, lighting, as well as IT solutions such as quantum cryptography which has been in development at Cambridge Research Laboratory, Toshiba Europe, located in the United Kingdom, now being commercialised. It was one of the biggest manufacturers of personal computers, consumer electronics, home appliances, and medical equipment. As a semiconductor company and the inventor of flash memory, Toshiba had been one of the top 10 in the chip industry until its flash memory unit was spun off as Toshiba Memory, later Kioxia, in the late 2010s.

Westinghouse Electric Company LLC is an American nuclear power company formed in 1999 from the nuclear power division of the original Westinghouse Electric Corporation. It offers nuclear products and services to utilities internationally, including nuclear fuel, service and maintenance, instrumentation, control and design of nuclear power plants. Westinghouse's world headquarters are located in the Pittsburgh suburb of Cranberry Township, Pennsylvania. Brookfield Business Partners is the majority owner of Westinghouse.

Corus Entertainment Canadian media/broadcasting company

Corus Entertainment Inc. is a Canadian multinational mass media and entertainment conglomerate company headquartered at the Corus Quay in Toronto, Ontario. Formed in 1999 as a spin-off from Shaw Communications, it has prominent holdings in the radio, publishing, and television industries.

The Blackstone Group American asset management company

Blackstone Inc. is an American alternative investment management company based in New York City. In 2019, Blackstone converted from a publicly traded partnership into a C-type corporation. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. As of 2020, the company's total assets under management were approximately US$619 billion.

Shaw Communications Canadian communications company

Shaw Communications Inc. is a Canadian telecommunications company which provides telephone, Internet, television, and mobile services. Headquartered in Calgary, Alberta, Shaw provides home telecommunications services primarily in Alberta and British Columbia and satellite television nationally. It also operates smaller cable television systems in Saskatchewan, Manitoba, and Northern Ontario. Shaw provides mobile services through its subsidiary Freedom Mobile, under both the Freedom and Shaw Mobile brands, in areas of Alberta, British Columbia, and Southern Ontario. The company's chief competitor for home telecommunications in western Canada is Telus Communications.

CBRE Group US commercial real estate services and investment company

CBRE Group, Inc. is an American commercial real estate services and investment firm. The abbreviation CBRE stands for Coldwell Banker Richard Ellis. It is the world’s largest commercial real estate services and investment firm

Arris International Limited is an American telecommunications equipment company engaged in data, video and telephony systems for homes and businesses. On April 4, 2019, Arris was acquired by network infrastructure provider CommScope.

RCN Corporation American cable television, telephone, and Internet service provider

RCN Corporation, originally Residential Communications Network, founded in 1993 and based in Princeton, New Jersey, was the first American facilities-based ("overbuild") provider of bundled telephone, cable television, and internet service delivered over its own fiber-optic local network as well as dialup and DSL Internet service to consumers in the Boston, New York, eastern Pennsylvania, Washington, D.C., Chicago, and Los Angeles areas.

Chicago Bridge & Iron Company Defunct large engineering, procurement and construction (EPC) company

CB&I is a large engineering, procurement and construction (EPC) company with its administrative headquarters in The Woodlands, Texas. CB&I specializes in projects for oil and gas companies. CB&I employs more than 32,000 people worldwide. In May 2018 the company merged into McDermott International. McDermott struggled to integrate its acquisition of Chicago Bridge & Iron Co. On January 21, 2020, McDermott announced that it had filed for Chapter 11 bankruptcy.

Perella Weinberg Partners U.S.-based financial services firm

Perella Weinberg Partners L.P. is a global financial services firm focused on investment banking advisory services.

Intercontinental Exchange American exchange and clearing house company

The Intercontinental Exchange (ICE) is an American Fortune 500 company formed in 2000 that operates global exchanges, clearing houses and provides mortgage technology, data and listing services. The company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada and Europe, the Liffe futures exchanges in Europe, the New York Stock Exchange, equity options exchanges and OTC energy, credit and equity markets.

Apollo Global Management American private equity firm

Apollo Global Management, Inc. is an American global alternative investment management firm. It invests in credit, private equity, and real assets. As of December 31, 2020, the company had $455.5 billion of assets under management, including $328.6 billion invested in credit, including mezzanine capital, hedge funds, non-performing loans and collateralized loan obligations, $80.7 billion invested in private equity, and $46.2 billion invested in real assets, which includes real estate and infrastructure. The company invests money on behalf of pension funds, financial endowments and sovereign wealth funds, as well as other institutional and individual investors. Since inception in 1990, private equity funds managed by Apollo have produced a 24% internal rate of return (IRR) to investors, net of fees.

Investment Technology Group, Inc. was a United States-based multinational agency brokerage and financial markets technology firm aimed at a hedge fund and asset management clientele. One of the first suppliers of electronic trading services, ITG launched the industry’s second anonymous electronic trade matching system, POSIT, in 1987. ITG has since expanded its business to include tools for portfolio management, pre-trade analysis, order management, trade execution, and post-trade evaluation.

Saban Capital Group Entertainment investment firm

Saban Capital Group LLC is an American investment firm based in Los Angeles, California focused on media, entertainment, and communications investments. Formed in 2010 by Haim Saban, Saban Capital Group owns Saban Films (SF), part of Univision Communications, and part of Celestial Tiger Entertainment.

McDermott International, Ltd is a global provider of engineering and construction solutions to the energy industry. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 40,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. Incorporated in Bermuda, it is headquartered in the Energy Corridor area of Houston, Texas.

Rhône Group Private equity firm

Rhône Group is a global private equity firm, specializing in mergers and acquisitions, leveraged buyouts, recapitalizations, and partnerships with particular focus on European and trans-Atlantic investments. Rhône also offers financial advisory services, strategic alliances, joint partnerships, and business valuation services. Rhone Group was listed in 2013 to 2014 by Preqin as the 'Most Consistent Performing Private Equity Fund Manager' based on both its multiple and IRR of all 3 funds in the top quartile ranking.

Centerview Partners is an American independent investment banking firm. Centerview operates primarily as an investment banking advisory firm. Centerview has 60 partners and 300 professionals with expertise across a wide range of industries, geographies, transaction structures and sizes. Centerview is widely regarded as one of the most prestigious investment banking advisory firms, and have advised more than $3 trillion in transactions worldwide.

Shaw Media

Shaw Media was the television broadcasting division of Shaw Communications. Shaw Media owned the Global Television Network, which broadcasts nationally via 13 television stations, as well as 19 specialty channels including Slice, HGTV Canada, Showcase, Food Network Canada, and History.

Caesars Entertainment American gaming company

Caesars Entertainment, Inc., formerly Eldorado Resorts, Inc., is an American hotel and casino entertainment company founded and based in Reno, Nevada that operates more than 50 properties. Eldorado Resorts acquired Caesars Entertainment Corporation and changed its own name to Caesars Entertainment on July 20, 2020.

Brookfield Business Partners L.P. is a publicly traded limited partnership and the primary public vehicle through which Brookfield Asset Management, its parent company, owns and operates the business services and industrial operations of its private equity group. It was formed through a spin-off from Brookfield Asset Management in June 2016.

References

  1. "Toshiba reportedly to buy 20% of Westinghouse", MarketWatch, Sept. 5, 2011, 6:53 pm EDT. Retrieved 2011-09-05.
  2. "Toshiba confirms it will buy Shaw stake in Westinghouse", Bloomberg via gulfnews.com, 00:00 September 8, 2011. The ownership shares over time as covered in the article don't fully add up. Some transactions probably not covered in the article. Retrieved 2011-09-08.
  3. "Toshiba buys Shaw Group's stake in Westinghouse". 7 January 2013. Retrieved 2 March 2013.
  4. Jim Polson and Thomas Black (30 July 2012). "CB&I to Buy Shaw Group for $3 Billion to Add Nuclear Unit". San Francisco Chronicle. Bloomberg. Retrieved 30 July 2012.
  5. "CB&I - News". www.cbi.com.
  6. "Home | The Advocate — Baton Rouge, Louisiana". Archived from the original on 2016-03-04.
  7. writer, TIMOTHY BOONE Advocate business. "CB&I completes Shaw acquisition".
  8. "McDermott files for Chapter 11 bankruptcy to eliminate $4.6 billion of debt". Offshore Energy. 21 January 2020.
  9. "Shaw is back: McDermott sells Louisiana, other pipe fabrication assets". 1012 Industry Report. 8 June 2020.
  10. "Shaw is back: McDermott sells Louisiana, other pipe fabrication assets". 1012 Industry Report. 8 June 2020.
  11. "Shaw is back: McDermott sells Louisiana, other pipe fabrication assets". 1012 Industry Report. 8 June 2020.