Draft:Jim Bernhard

James "Jim" Michell Bernhard, Jr. is an American businessman from Louisiana.

Early life and education

Bernhard was born to James "Jimmy" Michell Bernhard and Barbara Savage Bernhard. Bernhard was born in Baton Rouge, Louisiana, but his family moved to Lafayette, Louisiana when he was a child. He attended Edgar Martin Middle School and graduated from Cathedral Carmel High School. His grandfather started Bernhard Mechanical in Lafayette in 1919.

Bernhard received a degree in Construction Management from Louisiana State University (LSU) in 1976.

Career

Bernhard began his career as vice president and general manager of Sunland Services, a pipe fabrication and industrial construction company. In 1987, Bernhard, Oscar J. LaFleur, and A.W. Angelo spent $50,000 to take over the assets of a bankrupt pipe fabricator when Louisiana's oilfield was struggling to recover from a major downtown. The company was originally known as Shaw Industries Inc. Bernhard built the company into The Shaw Group by acquiring other firms and by moving into design, construction, and operation of plants and energy companies, including nuclear power operations. In 1993, The Shaw Group's common stock was first listed on the Nasdaq exchange. Bernhard was president, CEO, and chairman of the board of the public company.

In August and September 2005, Hurricanes Katrina and Rita made landfall in southern Louisiana. The Shaw Group secured no-bid contracts from the U.S. Army Corps of Engineers and FEMA worth more than $200 million. The contracts included repairing the breached levees that flooded much of New Orleans and pumping floodwater out of the city to help with emergency housing and cleanup. Kathleen Blanco was governor of Louisiana at the time. Bernhard acknowledged a personal relationship with the governor and campaign contributions, but stated that nothing unethical had taken place during the contract bidding process.

In July 2012, CB&I agreed to acquire The Shaw Group for approximately $3 billion in an all cash and stock deal. Under the terms, CB&I paid $46.00 per share, $41.00 in cash and $5.00 in CB&I equity. In December 2012, shareholders from both companies approved the transaction and it officially closed in February 2013. Bernhard reportedly departed the company following the transaction with more than $20 million in cash, $15 million in equity, more than $18 million from a senior executive retirement plan, and use of a private plane for 10 years.

In 2013, Bernhard established Bernhard Capital Partners (BCP), a middle-market services and infrastructure-focused private equity firm. According to SEC filings, BCP's Energy Service Fund closed its initial equity sale in Spring 2016 with more than $750 million in capital commitments. The firms investors include some of the nation's largest pension and endowment funds including Harvard University Endowment, The Mayo Clinic, United Auto Workers Union, Electronics International, and University of Michigan Endowment.

In early 2013, it was reported that Bernhard was in consideration for the position of United States Secretary of Energy under President Obama.

Personal life

Bernhard resides in Baton Rouge, LA and is married to Dana Reneau Bernhard. The couple reside in an estate along Highland Road near the Country Club of Louisiana. In 2017, the couple's property tax bill for their home was $45,846, the second highest property tax bill in East Baton Rouge Parish for 2017. Bernhard is a registered Democrat.

In 2022, Bernhard and his wife purchased Pin Oak Stud Thoroughbred Farm in Versailles, Kentucky. Nine months after purchasing Pin Oak Farm, the couple acquired the adjacent Adena Springs Annex farm. This purchase brought the total size of Pin Oak Farm to 1,258 acres.

In 2009, Bernhard and his wife, Dana, founded the "Every Kid a King" foundation to help children have better opportunities for education and healthcare.