EthosEnergy Sells O&M Business, Sharpens Focus on Gas Turbine Core

EthosEnergy Group has sold its Operations & Maintenance (O&M) business to Brown & Root Industrial Services, the companies announced this week, as the rotating-equipment specialist continues narrowing its portfolio around gas turbine services.¹

The O&M business is one of the industry's leading independent providers of operations and maintenance services for power generation assets, with an experience base spanning more than 200 facilities and over 50 gigawatts of generating capacity worldwide.¹

For EthosEnergy CEO Ana Amicarella, the sale isn't a retreat from power generation—it’s the latest step in a strategy she's been running since One Equity Partners (OEP) acquired the company in 2024.² "Simplify, focus, execute. It's the key to success in our business," Amicarella said in an interview with Turbomachinery International. "This focus creates clarity. It allows for faster decisions. We have been allowed to very narrowly focus our investment in our core capabilities, which ultimately benefits not only us but our customers as well."

Why EthosEnergy Sold Its O&M Business

The O&M sale is EthosEnergy's second major divestiture under OEP ownership, following the December 2025 sale of its aerospace and defense MRO business.³ Together, the two deals have narrowed EthosEnergy to its core: aftermarket maintenance, repair, and overhaul of industrial gas turbines and rotating equipment.

While the O&M business is no longer formally under EthosEnergy, the company’s relationships with operators shouldn’t lose ground. "We continue to be able to supply these services to everyone, including our plants that operate with competitors," Amicarella said. "It's a mutual beneficial partnership. They focus on what they're good at, and we focus on what we're good at."

What Changes for EthosEnergy Customers?

Amicarella said the continuity of that relationship is the point for existing EthosEnergy customers. "Our commitment to safety, quality, and customer success remains unchanged," she said. "What they can count on is even a greater focus on what we're good at and our capability in the rotating equipment services."

That extends to remote operations and reliability engineering, which moved with the O&M business. Rather than losing that visibility, Amicarella said EthosEnergy will access it through the new partnership: "We will continue to work with our former O&M business [via] Brown and Root Industrial Services. We will utilize their plant health and diagnostic service ... and their remote monitoring capabilities to ensure our customers are fully supported."

That continuity is backed by a collaborative commercial relationship the two companies say they'll maintain going forward, with customers able to draw on EthosEnergy's rotating equipment product and field services alongside Brown & Root's expanded O&M platform.¹ Iain O'Brien, who led the business as president of EthosEnergy O&M, will carry that team into Brown & Root. "Brown & Root is an outstanding strategic home for the O&M business and will provide the resources, complementary capabilities, and industrial scale needed to support our continued growth in the exciting power generation sector and beyond," O'Brien said.¹

Brown & Root, for its part, called the acquisition a natural fit for its own growth strategy. "This exciting acquisition is highly complementary to Brown & Root's long-term growth strategy," said Andy Dupuy, chief executive officer of Brown & Root Industrial Services. "EthosEnergy O&M's talented team brings decades of operational excellence, deep power generation expertise and long-standing customer relationships that strengthen our ability to serve critical infrastructure across North America and select international markets."¹

Where Does EthosEnergy Go From Here?

Amicarella said the divestiture comes as demand for EthosEnergy's core services is outpacing expectations. "We have record performance quarter after quarter, and the market is just booming," she said. "Despite this divestiture, we're even bigger than we've ever been as it relates to growth and profitability."

Much of that demand traces to the same forces reshaping the broader power sector: data center growth, an aging U.S. turbine fleet, and utilities extending the life of existing assets while new equipment orders back up. "The need for our services is just going to explode," Amicarella said. Beyond the U.S., she pointed to the Middle East, Asia and an established European footprint as near-term growth markets, alongside continued acquisitions—EthosEnergy recently added nine FA-class turbine technologies to its capabilities—and a capital investment expanding gas turbine service capacity at its Houston repair shop.

Asked to look five years out, Amicarella was candid about forecasting in a market moving this fast: "If you're good at predicting the future five years away, tell me how to do it," she remarked. What she's confident of is direction—a growing installed base of gas turbine equipment that will need service for years to come and a narrower, more focused EthosEnergy positioned to provide it.

References
1. Brown & Root Industrial Services Acquires EthosEnergy Group's Operations & Maintenance Business. News release. Brown & Root Industrial Services; Accessed July 23, 2026. https://www.brownandroot.com/brown-root-industrial-services-acquires-ethosenergy-groups-operations-maintenance-business/
2. One Equity Partners Completes Acquisition of EthosEnergy. News release. One Equity Partners; Dec. 26, 2024. Accessed July 23, 2026. https://www.oneequity.com/news/one-equity-partners-completes-acquisition-of-ethos-energy/
3. One Equity Partners' Portfolio Company EthosEnergy to Sell Aerospace and Defense Business. News release. One Equity Partners; Dec. 16, 2025. Accessed July 23, 2026. https://www.oneequity.com/news/one-equity-partners-portfolio-company-ethosenergy-to-sell-areospace-and-defense-business/