Bernhard Capital Partners adds another Energy-focused contractor

The J. Robert Oppenheimer Study Center at Los Alamos National Laboratory.

The J. Robert Oppenheimer Study Center at Los Alamos National Laboratory. / Chapin31

The private equity firm now owns three companies focused on providing technical and other professional services to the Energy Department and its components.

Private equity firm Bernhard Capital Partners has added a third Energy Department-focused business to its portfolio through the acquisition of Strategic Management Solutions, a technical consulting services provider.

SMSI and its approximately 400 employees provide program management and project support services across Energy and its components including the National Nuclear Security Administration and national laboratories. Terms of the transaction announced Wednesday were not disclosed.

Bernhard started its strategy in 2022 to identify and acquire companies with significant footings across the Energy customer set, which has since led Bernhard to purchase of Boston Government Services and Sterling Engineering & Consulting Group.

“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,” Bernhard partner Chris Dillon said in a release.

Albequerque, New Mexico-headquartered SMSI works on environmental management, national security and large infrastructure initiatives for its government and industrial clients.

SMSI's service lines include special nuclear material and high hazard operations, procurement, supply chain, project delivery and integration, and decontamination and demolition.

As part of the transaction, SMSI's president Matt Nuckols and other executive team members will continue to lead the company.

CEO David O'Flynn is slated to take on an executive director role at Bernhard for the firm's Energy portfolio, while SMSI's founder and chairman Lee Bernstein will transition into a consulting role focused on strategy.

Bernstein founded SMSI in 2000 to support construction and environmental projects at Los Alamos National Laboratory, plus telecommunications projects throughout the Southeastern U.S. in project management and project controls.

Bernhard was established in 2013 and manages approximately $3.6 billion in services- and infrastructure-focused gross assets.