Private investment firm Gryphon Investors has agreed to sell its portfolio company, Shermco, to Blackstone in a deal valued at approximately $1.6 billion. This acquisition represents a significant investment for Blackstone, expanding its industrial services holdings.
Shermco specializes in electrical power system testing, maintenance, and repair services, serving a diverse client base across various industries. This strategic acquisition aligns with Blackstone's focus on investing in high-quality businesses with strong market positions.
The transaction underscores Blackstone's continued activity in the M&A market, deploying capital to acquire companies that offer essential services. This addition to its portfolio is expected to contribute to Blackstone's long-term value creation.
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