- Business
- Brookfield Business Partners L.P. (BBU-UN.TO) is a publicly traded limited partnership and the primary vehicle through which Brookfield Corporation owns and operates business services and industrial operations within its private equity group; it owns and operates a diversified portfolio of high-quality businesses across business services, infrastructure services, and industrials segments. Core operations encompass construction and infrastructure services for the power generation industry; residential mortgage insurance and non-bank financial services; dealer software and technology services for automotive and other sectors; healthcare services; energy solutions including automotive batteries under brands such as Clarios (incorporating Varta, Heliar, Optima and others), electric heat tracing systems via Chemelex, and road fuels supply; advanced manufacturing of specialty consumables and testing equipment for life sciences and environmental labs through Antylia Scientific; and industrial services including engineering, transportation, logistics, and utilities. The company targets essential businesses characterized as low-cost producers with high barriers to entry, serving markets in the USA, UK, Europe, Australia, Brazil, Canada, Mexico and other regions, with maximum revenue from the UK business services segment.
Founded in 2016 through a spin-off from Brookfield Asset Management (now Brookfield Corporation) and headquartered in Hamilton, Bermuda, Brookfield Business Partners operates as a subsidiary of its parent company.
Recent developments include the January 2025 acquisition of Chemelex, a manufacturer of electric heat tracing systems, for $1.7 billion enterprise value with a $212 million investment for 25% stake; the May 2025 completion of the $1.3 billion acquisition of Antylia Scientific for a 26% interest; a July 2025 agreement to partner in privatizing First National Financial Corporation, a Canadian mortgage lender, for $2.7 billion with an expected 11% stake; the sale of partial interests in three businesses in July 2025 to seed a new evergreen private equity fund managed by Brookfield Asset Management, yielding approximately $690 million in units; renewal of normal course issuer bids in 2025 for up to 5% of its limited partnership units and exchangeable shares; announcement of a planned conversion in Q1 2026 of its LP structure and Brookfield Business Corporation into a single publicly traded Canadian corporation, BBU Inc., via one-for-one share exchange to simplify structure and enhance liquidity; and Clarios' acceleration of U.S. battery recycling initiatives under a $6 billion strategy as of November 2025.