Private equity firms thrive—or stumble—on the strength of their people. Black Bay Partners, a Houston-based PE shop specializing in energy, chemicals, and related industrial investments, just beefed up its roster in a significant way. The firm announced five new hires across legal and investment roles and two promotions, signaling its intent to double down on sector expertise as energy transitions, geopolitics, and industrial demand reshape the playing field.

A Full Bench Press

The standout hire is Patrick Westerheide, who joins as General Counsel. With more than 15 years in energy law—and experience steering Piñon Midstream through its sale to Enterprise Products Partners—Westerheide brings the kind of dealmaking and compliance firepower critical in today’s complex regulatory environment.

The investment side is also getting a lift:

• John Dooley, Senior Associate – Eight years across engineering, consulting, and finance, with stints at Alvarez & Marsal, Dupont, and SI Group.
• Taylor Mullen, Senior Associate – Brings eight years in private equity and consulting, most recently at industrial-focused Watermill Group.
• Charles Liu, Associate – Six years in chemicals investment banking, including time at Citi’s Global Chemicals group.
• Chandler Clinkingbeard, Associate – Seven years in energy and private equity, previously with Valedus Partners.

Meanwhile, Grant McClure (joined 2022) and Preston Galatas (joined 2024) both moved up to Senior Associate, rounding out a wave of internal recognition.

Why It Matters

Energy and chemicals may not grab headlines like AI startups or fintech unicorns, but they’re at the heart of industrial and global supply chains. The sector is also in the crosshairs of the energy transition—where hydrocarbons, renewables, and specialty chemicals increasingly overlap.

For PE firms like Black Bay, having operators, engineers, and industry veterans in-house isn’t optional; it’s the moat. Unlike generalist funds chasing multiples in SaaS or consumer tech, sector specialists live and die by domain knowledge. This buildout of talent suggests Black Bay wants to scale its platform and go toe-to-toe with bigger names hunting mid-market energy deals.

The Firm’s Pitch

“We are thrilled to welcome Patrick, John, Taylor, Charles, and Chandler to our team,” said managing partner Michael LeBourgeois. He added that the promotions of Grant and Preston were “well-deserved” and emphasized the firm’s commitment to attracting top talent in pursuit of strong returns.

Translation: the firm is bulking up to stay competitive. With capital chasing fewer quality assets, firms that can navigate technical complexity—and provide value beyond check-writing—stand a better chance of winning deals.

The Bigger Picture

Black Bay’s moves reflect a broader trend: energy-focused private equity is recalibrating. Global majors like KKR, EnCap, and Quantum have been shifting strategies to balance hydrocarbons with lower-carbon opportunities. For smaller but specialized shops like Black Bay, the play is to be nimble, build credibility, and scale investment capabilities quickly.

As one industry banker recently quipped, “It’s not just capital that wins in energy PE anymore—it’s competence.” Black Bay seems to be taking that to heart.