Blackstone(US:BX) Zhi Tong Cai Jing·2025-08-21 13:37Core Viewpoint - Blackstone (BX.US) has reached an agreement to acquire electrical equipment service provider Shermco, marking its latest move in the increasingly important electrification process. The acquisition values Shermco at $1.6 billion, including debt [1] Group 1: Acquisition Details - Blackstone's energy transition investment company is acquiring Shermco from Gryphon Investors [1] - Shermco, founded in 1974, has over 600 technicians and 200 engineers providing electrical system maintenance, repair, and testing services across various sectors, including semiconductors, data centers, automotive, and food and beverage [1] - The acquisition reflects Blackstone's strategy to enhance its portfolio in the energy transition sector [2] Group 2: Fund Performance and Strategy - The acquisition of Shermco is part of a series of transactions by Blackstone's energy transition fund, which recently announced the acquisition of Enverus for over $6 billion, marking one of its largest deals to date [2] - Blackstone's energy transition fund IV completed its final fundraising with a cap of $5.6 billion, approximately one-third larger than fund III, and reported an internal rate of return of about 25% [2] - David Foley, Senior Managing Director at Blackstone, emphasized a broad understanding of "energy transition" and the importance of portfolio resilience by diversifying investments across different sectors [2]