Mark Butts, President and CEO, CB&I
Mark has over 30 years of experience working in various engineering, technology development, strategic planning, and senior management roles of increasing responsibility for CB&I. As President and CEO, he is responsible for overseeing the financial, commercial, and operational performance of the company. In 2024, he spearheaded the company’s transition to a standalone entity, now owned by a consortium of investors, led by Mason Capital Management, overseeing strategic initiatives, operational improvements, and financial growth, while positioning the company for continued success in the storage sector. Prior to his appointment as President and CEO, Mark served as Vice President of Engineering, leading global engineering and technical strategy for CB&I. Prior to this role, he was head of research and development, where he led the innovation of new storage solution technologies.
01 – Since CB&I was divested from McDermott in 4Q24, can you share more about how the new ownership structure under Mason Capital and its consortium of investors is supporting CB&I’s long-term growth strategies?
CB&I recently announced our acquisition by a consortium of financial investors led by Mason Capital Management LLC (Mason), including IES Holdings Inc., Nut Tree Capital Management LP, 683 Capital Management LLC, First Pacific Advisors, and other investors. The closing of this transaction positions CB&I, formerly a subsidiary of McDermott International Ltd, as a strong, independent company with no funded debt. Mason’s mission is to empower CB&I to achieve its strategic goals, capitalise on new market opportunities, and leverage significant growth potential in the dynamic energy storage solutions sector. CB&I has built a legacy of innovation while setting industry standards in safety, reliability, and performance. CB&I and Mason look forward to working together in driving the company’s vision forward. Mason and the investors have chosen a capital structure that supports our short- and long-term growth objectives, allowing CB&I to capitalise on the opportunities in front of us and continue delivering successful projects for our customers..
02 – Can you describe CB&I’s core product lines and the geographies you serve, and explain where your current focus lies?
CB&I’s core product lines focus on providing world-class storage solutions, including tanks and terminals, for a variety of applications, such as LNG, petrochemical, industrial, and water storage. Our expertise spans from engineering and design to fabrication, construction, and commissioning. We are recognised for our ability to deliver complex storage solutions, especially in critical areas like energy infrastructure, where safety and quality are most important. Geographically, CB&I serves customers across the globe, with a strong presence in North America, Latin America, the Middle East, and Asia. Our extensive operations and network of suppliers allow us to execute projects effectively in both well-established regions and more challenging, remote locations. Our current focus is on leveraging our broad geographic footprint and core engineering and construction capabilities to meet the most demanding energy infrastructure challenges. Whether it’s delivering small-scale storage solutions for remote sites or large-scale storage for major LNG projects, CB&I is committed to providing effective, safe, and high-quality storage solutions. We use our global supply chain network, along with our expertise in logistics and project delivery, to ensure we can deploy construction teams even in the most remote locations. By using our proven and consistent project delivery model, we manage risks and ensure that projects are completed on time, while maintaining the highest safety and quality standards. This allows us to be a trusted partner for our customers, no matter where they operate in the world.
03 – Can you talk to us about your future growth and expansion plans within the storage, tank, and terminal sectors?
We are thrilled to partner with Mason and the consortium as we embark on an exciting new chapter as a standalone company. Together with our new owners, we will build upon CB&I’s rich 135+ year heritage, continuing to collaborate with our valued customers and suppliers to deliver innovative solutions that address the evolving infrastructure needs of the energy and industrial markets. With the closing of this transaction, we are on solid financial footing, which positions us to capitalise on strong end-market demand and to advance our strategic goals.
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Source: Featured in Tanks & Terminals Magazine
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