{"id":878018,"date":"2025-08-21T11:24:59","date_gmt":"2025-08-21T15:24:59","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion\/"},"modified":"2025-08-21T11:24:59","modified_gmt":"2025-08-21T15:24:59","slug":"blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion\/","title":{"rendered":"Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion<\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nBlackstone (NYSE: BX) announced today that private equity funds affiliated with Blackstone (\u201cBlackstone\u201d) have entered into a definitive agreement to acquire Shermco, a leading provider of full life-cycle electrical equipment services, from Gryphon Investors, a leading middle-market private investment firm. The transaction values the business at approximately $1.6 billion.<\/p>\n<p>\nFounded in 1974, Shermco is one of the largest electrical testing organizations accredited by the InterNational Electrical Testing Association (\u201cNETA\u201d), providing comprehensive electrical system maintenance, repair, testing, commissioning and design services, with more than 600 NETA technicians and 200 engineers across 40 service centers in the U.S. and Canada. Shermco provides critical services for data centers, utilities and diversified commercial and industrial end-markets, partnering with customers to enhance the safety, reliability and efficiency of their critical electrical infrastructure, while minimizing downtime and outages.<\/p>\n<p>\nJP Munfa and Michael Staub, Senior Managing Directors at Blackstone, said: \u201cShermco\u2019s maintenance, testing, and commissioning services are vital to maintaining the reliability and safety of mission-critical electrical infrastructure. We are excited to partner with Phil Petrocelli and his exceptional leadership team to build on Shermco\u2019s strong momentum and expand its ability to serve customers nationwide as a trusted provider of essential electrical services.\u201d<\/p>\n<p>\nDavid Foley, Global Head of Blackstone Energy Transition Partners, added: \u201cAs a leading energy investor focused on investment opportunities related to increasing electrification and the energy transition, we proactively seek out companies with strong, entrepreneurial management and work with them to fully capitalize on growth opportunities, building scale and competitive advantage. Shermco is well positioned to benefit from continued growth in the installed base of technically complex electrical equipment both on the grid and behind the meter and is the twelfth investment commitment from our most recent energy transition fund since the initiation of its investment period in June last year.\u201d<\/p>\n<p>\nPhil Petrocelli, CEO of Shermco, said: \u201cPartnering with Blackstone marks an exciting next step in our growth trajectory. Together with its scale, resources and deep expertise across the energy industry, we\u2019re excited to continue serving our customers\u2019 critical power-system needs and expand our footprint and capabilities for our talented technicians and engineers \u2013 all while maintaining Shermco\u2019s unwavering commitment to safety, service and excellence.\u201d<\/p>\n<p>\nShermco represents the latest in a number of recent transactions Blackstone Energy Transition Partners has announced behind its high-conviction investment themes in electrification and the ongoing energy transition, including <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.blackstone.com%2Fnews%2Fpress%2Fblackstone-announces-agreement-to-acquire-enverus%2F&amp;esheet=54310516&amp;newsitemid=20250819136392&amp;lan=en-US&amp;anchor=Enverus&amp;index=1&amp;md5=cf318119d3b446c4adba7b03e56a5c53\">Enverus<\/a>, Lancium, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.blackstone.com%2Fnews%2Fpress%2Fblackstone-acquires-power-grid-components-inc-a-leading-supplier-of-critical-components-for-the-electrical-grid%2F&amp;esheet=54310516&amp;newsitemid=20250819136392&amp;lan=en-US&amp;anchor=Power+Grid+Components&amp;index=2&amp;md5=5dead844c8cb0d75ab3ddd38b7d1b511\">Power Grid Components<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.blackstone.com%2Fnews%2Fpress%2Fblackstone-energy-transition-partners-to-acquire-potomac-energy-center%2F&amp;esheet=54310516&amp;newsitemid=20250819136392&amp;lan=en-US&amp;anchor=Potomac+Energy+Center&amp;index=3&amp;md5=1b59680b4eb654ef37272680b5ed9813\">Potomac Energy Center<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.blackstone.com%2Fnews%2Fpress%2Fblackstone-acquire-sediver-parent-company-seves-group-from-triton%2F&amp;esheet=54310516&amp;newsitemid=20250819136392&amp;lan=en-US&amp;anchor=Sediver&amp;index=4&amp;md5=16f48af8989092cacbfac75985261c77\">Sediver<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.blackstone.com%2Fnews%2Fpress%2Fblackstone-to-acquire-trystar-premier-provider-of-backup-power-solutions%2F&amp;esheet=54310516&amp;newsitemid=20250819136392&amp;lan=en-US&amp;anchor=Trystar&amp;index=5&amp;md5=3594c48f250326bb947f8609e983bdec\">Trystar<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.blackstone.com%2Fnews%2Fpress%2Fblackstone-energy-transition-partners-announces-majority-investment-in-westwood-professional-services-inc%2F&amp;esheet=54310516&amp;newsitemid=20250819136392&amp;lan=en-US&amp;anchor=Westwood&amp;index=6&amp;md5=647f6e91cc23043a21616bb8bdba7c0d\">Westwood<\/a>, and others. Blackstone Energy Transition Partners and Blackstone\u2019s private equity strategy for individual investors are each expected to invest in Shermco as part of this transaction.<\/p>\n<p>\nStifel acted as a financial advisor and Vinson &amp; Elkins acted as a legal advisor to Blackstone. Harris Williams served as a financial advisor and Kirkland &amp; Ellis served as a legal advisor to Gryphon Investors and Shermco.<\/p>\n<p><b>Blackstone Energy Transition Partners<br \/>\n<\/b><br \/>Blackstone Energy Transition Partners is Blackstone&#8217;s energy-focused private equity business, a leading energy investor with a successful long-term record, having committed over $27 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders. Further information is available at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Furl.avanan.click%2Fv2%2F___https%3A%2Fwww.blackstone.com%2Four-businesses%2Fblackstone-energy-transition-partners%2F___.YXAzOnBvd2VyZ3JpZGNvbXBvbmVudHNpbmM6YTpvOjVkYWJlY2IzY2U4ODA5ZDNlZjdmMTc0MWY5NzQ1MGVkOjY6NzQ4OTplYTM3MWJmZTYzM2EyZmZhZmQ2MDFiMzI3MWQ2MGUzNDNkMWFkNTIxYjc3NmY4MGFlNmZhOTE3YjNkZTYxYTcxOnA6VDpO&amp;esheet=54310516&amp;newsitemid=20250819136392&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.blackstone.com%2Four-businesses%2Fblackstone-energy-transition-partners%2F&amp;index=7&amp;md5=6cd044732bde51342a048b6fa2fb8036\">https:\/\/www.blackstone.com\/our-businesses\/blackstone-energy-transition-partners\/<\/a>.<\/p>\n<p><b>About Shermco<br \/>\n<\/b><br \/>Headquartered in Irving, TX, Shermco provides electrical testing, maintenance, commissioning and repair services to a wide range of utility, industrial, energy and other end markets. With more than 40 locations, Shermco serves a diversified blue-chip client base across North America. The Company is an active participant in NETA (the InterNational Electrical Testing Association), EASA (Electrical Apparatus Service Association), and ACP (American Clean Power Association). For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.shermco.com%2F&amp;esheet=54310516&amp;newsitemid=20250819136392&amp;lan=en-US&amp;anchor=www.shermco.com&amp;index=8&amp;md5=b6afd0fe030e4933f9818d745673f7d0\">www.shermco.com<\/a>.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250819136392r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250819136392\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250819136392\/en\/<\/a><\/span><\/p>\n<p><b>B<\/b><b>lackstone<br \/>\n<\/b><br \/>Jennifer Heath<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Jennifer.Heath@Blackstone.com\">Jennifer.Heath@Blackstone.com<br \/>\n<\/a><br \/>(347) 603-9256<\/p>\n<p><b>Shermco<br \/>\n<\/b><br \/>Drew Johns<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Drew.Johns@shermco.com\">Drew.Johns@shermco.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Engineering Other Energy Utilities Manufacturing Energy Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250819136392\/en\/286215\/3\/bx_logo_jpeg.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion NEW YORK&#8211;(BUSINESS WIRE)&#8211; Blackstone (NYSE: BX) announced today that private equity funds affiliated with Blackstone (\u201cBlackstone\u201d) have entered into a definitive agreement to acquire Shermco, a leading provider of full life-cycle electrical equipment services, from Gryphon Investors, a leading middle-market private investment firm. The transaction values the business at approximately $1.6 billion. Founded in 1974, Shermco is one of the largest electrical testing organizations accredited by the InterNational Electrical Testing Association (\u201cNETA\u201d), providing comprehensive electrical system maintenance, repair, testing, commissioning and design services, with more than 600 NETA technicians and 200 engineers across 40 service centers in the U.S. and Canada. Shermco provides critical services for data centers, utilities and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-878018","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion NEW YORK&#8211;(BUSINESS WIRE)&#8211; Blackstone (NYSE: BX) announced today that private equity funds affiliated with Blackstone (\u201cBlackstone\u201d) have entered into a definitive agreement to acquire Shermco, a leading provider of full life-cycle electrical equipment services, from Gryphon Investors, a leading middle-market private investment firm. The transaction values the business at approximately $1.6 billion. Founded in 1974, Shermco is one of the largest electrical testing organizations accredited by the InterNational Electrical Testing Association (\u201cNETA\u201d), providing comprehensive electrical system maintenance, repair, testing, commissioning and design services, with more than 600 NETA technicians and 200 engineers across 40 service centers in the U.S. and Canada. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion\/","og_locale":"en_US","og_type":"article","og_title":"Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion - Market Newsdesk","og_description":"Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion NEW YORK&#8211;(BUSINESS WIRE)&#8211; Blackstone (NYSE: BX) announced today that private equity funds affiliated with Blackstone (\u201cBlackstone\u201d) have entered into a definitive agreement to acquire Shermco, a leading provider of full life-cycle electrical equipment services, from Gryphon Investors, a leading middle-market private investment firm. The transaction values the business at approximately $1.6 billion. Founded in 1974, Shermco is one of the largest electrical testing organizations accredited by the InterNational Electrical Testing Association (\u201cNETA\u201d), providing comprehensive electrical system maintenance, repair, testing, commissioning and design services, with more than 600 NETA technicians and 200 engineers across 40 service centers in the U.S. and Canada. Shermco provides critical services for data centers, utilities and &hellip; Continue reading \"Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion\/","og_site_name":"Market Newsdesk","article_published_time":"2025-08-21T15:24:59+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250819136392r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion","datePublished":"2025-08-21T15:24:59+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion\/"},"wordCount":722,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250819136392r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion\/","name":"Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion - 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