Blackstone completed the acquisition of Shermco, a leading electrical testing, maintenance, commissioning, and repair services provider, for approximately $1.6 billion.
Shermco, founded in 1974, operates more than 40 locations across North America and employs over 800 professionals, including more than 600 NETA‑certified technicians and 200 engineers.
The company serves a diversified blue‑chip client base that includes data centers, utilities, and other industrial end markets, delivering high‑margin, recurring‑revenue services that support critical infrastructure.
Financial advisors for Shermco were Harris Williams, with Kirkland & Ellis serving as legal counsel. Blackstone’s advisors were JPMorgan Chase & Co. and Stifel Financial Corp., while Vinson & Elkins LLP provided legal advice.
Shermco was acquired by Gryphon Investors in June 2018 from Oaktree Capital Management; under Gryphon’s ownership the company achieved two‑fold revenue growth through organic expansion and add‑on acquisitions.
The transaction is being executed by Blackstone Energy Transition Partners IV, a fund focused on energy transition and electrification opportunities.
Shermco CEO Phil Petrocelli said, “We are excited to partner with Blackstone to accelerate growth and deliver value to our customers.”
The deal strengthens Blackstone’s portfolio in the electrical services sector and positions the firm to capture growth in the rapidly expanding data‑center and utility markets, aligning with its broader focus on critical infrastructure and energy transition.
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