2000-present
In 2000, CB&I acquired Howe-Baker Engineers, a company specializing in process technologies for the hydrocarbon processing industry.[16] In 2001, CB&I acquired PDM’s engineered construction and water storage divisions.[17] Also in 2001, CB&I headquarters moved from Chicago to The Woodlands, Texas.[18] In 2003, the company bought John Brown Hydrocarbons, renaming it at first CB&I John Brown, and later CB&I UK Limited.[19]
The firm acquired Lummus Global from ABB on November 19, 2007, adding approximately 3,000 employees and expanding CB&I’s technological capabilities and global reach for the energy and petrochemical industries.[20][21] In 2010, CB&I acquired Shell’s Coal Gasification Technology (CDTECH), including patents, intellectual property, and technology licenses related to coal gasification.[22] In 2012, CB&I Technology (formerly Lummus) was awarded a contract by Indian petrochemicals major, Reliance Industries, to provide paraxylene (P-Xylene) (PX) technology for an aromatics complex in India.[23] The complex was started up in April 2017,[24] making Reliance the world's second largest producer of paraxylene.[24]
In 2012, CB&I agreed to buy The Shaw Group for about US$3 billion,[25][26][27] completing the acquisition in February 2013. The deal expanded CB&I’s capabilities in the nuclear, power, and industrial sectors.[28] Despite initial strategic gains from the Shaw Group acquisition, CB&I faced challenges related to project delays, cost overruns, and legal disputes largely related to the construction of two Westinghouse AP1000 reactor units at Plant Vogtle in Waynesboro, GA.[29][30] The subsidiary that was formed as a result, CB&I Stone Webster—a result of The Shaw Group's earlier acquisition of Stone & Webster during its bankruptcy—was again sold, in January 2016, to Westinghouse Electric Co., for US$229 million.[31]
For 2017, revenue for CB&I was US$6.7 billion, down from the year before.[33] In August 2017, CB&I announced its intent to sell its Technology business to focus on its core EPC and fabrication services.[34] Also in 2017, the company was forced to close Chicago Bridge & Iron Beaumont due to damages from Hurricane Harvey. The following year, CB&I sold the work yard to the Port of Beaumont.[35][36][37]
In May 2018, the company was acquired by McDermott International for US$6 billion.[38][39] After being acquired by McDermott, CB&I's stock ceased being listed on the NYSE on May 11, 2018. Gary P. Luquette was the chairman of the combined company.[40] During its ownership, McDermott made a number of divestments, including a US$1 billion deal for its own storage tank business and US pipe fabrication business.[41] McDermott also sold the company’s Woodlands headquarters.[42] McDermott struggled to integrate its acquisition of CB&I, and in January 2020 was facing bankruptcy.[43] On January 21, 2020, McDermott announced that it had filed for Chapter 11 bankruptcy.[44]
In 2024, a consortium of investors led by Mason Capital acquired CB&I from McDermott International for US$475 million of proceeds before taxes and transaction expenses. CB&I’s 4,000 employees in 30 locations across North America, the Middle East and Asia were expected to remain with the business operations following the transaction.[41][45] CB&I moved its headquarters back to The Woodlands, Texas.[18]
In December 2025, it was announced that CB&I had reached an agreement to acquire the Asset Solutions business of Petrofac in the United Kingdom.[46]
The agreement closed on April 9, 2026 with approximately 3,000 Petrofac employees joining CB&I.[47] The acquisition furthers CB&I’s expansion into integrated services, strengthens client relationships, and creates new opportunities for growth in international markets. The deal further diversifies CB&I’s revenue by adding a reimbursable contracting model that helps to mitigate cyclicality and extend its services beyond the traditional lump-sum EPC portfolio.[48]
Following the acquisition, CB&I operates as one company with two global business units, CB&I Asset Solutions based in Aberdeen, Scotland, and CB&I Storage Solutions, based in The Woodlands, Texas. Each unit maintains its own delivery accountability while leveraging CB&I’s corporate functions for strategic coordination and operational support.[48]
Corporate headquarters are located in The Woodlands, Texas.[49]
