Blackstone to Acquire Trystar, Premier Provider of Backup Power Solutions
2024年7月16日 - 10:00PM
ビジネスワイヤ(英語)
Blackstone (NYSE: BX) announced today that private equity funds
affiliated with Blackstone (“Blackstone”) entered into a definitive
agreement to acquire Trystar, a premier provider of electrical
equipment used for backup power solutions.
Trystar designs and manufactures critical electrical power
solutions for data center, industrial, commercial, healthcare, and
utility end markets. The company’s product offerings help to ensure
power reliability, which is of increasing importance amidst the
energy transition.
“We’re thrilled to be partnering with the Trystar management
team to drive the next phase of growth for the company. Building on
our track record of energy transition investments, we look forward
to leveraging Blackstone’s global scale and deep domain expertise
to further enhance Trystar’s market position,” said Bilal Khan,
Senior Managing Director at Blackstone Energy Transition
Partners.
Mark Zhu, Managing Director at Blackstone Energy Transition
Partners, added: “Trystar’s innovative and mission-critical power
management solutions are well-positioned to benefit from several
thematic tailwinds including growing demand for electricity and
end-users prioritizing on-site power resiliency.”
“We are tremendously excited about partnering with Blackstone.
Together, we can build a leading platform serving the distributed
power generation market and lead the charge in facilitating the
energy transition,” said AJ Smith, CEO of Trystar.
Kirkland & Ellis LLP served as legal counsel to Blackstone.
Houlihan Lokey acted as financial advisor, and Faegre Drinker
Biddle & Reath LLP served as legal counsel to Trystar.
About Blackstone Blackstone is the world’s largest
alternative asset manager. We seek to deliver compelling returns
for institutional and individual investors by strengthening the
companies in which we invest. Our more than $1 trillion in assets
under management include global investment strategies focused on
real estate, private equity, infrastructure, life sciences, growth
equity, credit, real assets, secondaries, and hedge funds. Further
information is available at www.blackstone.com. Follow @blackstone
on LinkedIn, X (Twitter), and Instagram.
About Blackstone Energy Transition Partners Blackstone
Energy Transition Partners is Blackstone’s energy-focused private
equity business, a leading energy investor with a successful
long-term record, having invested over $21 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.
About Trystar Trystar LLC is a leading provider of
electrical power solutions for the commercial, industrial, and
utility markets. We are a vertically integrated manufacturer with
the custom engineering expertise and customer-centric approach that
provides our customers with both the best solution and the best
experience. Established in 1991, Trystar is headquartered in
Faribault, Minnesota with additional manufacturing and offices
located throughout the United States and Canada. Trystar’s diverse
portfolio of offerings includes a wide range of safe, reliable,
permanent, and portable power solutions that serve diverse industry
sectors including healthcare, data centers, utilities,
entertainment, education, government, and commercial buildings.
Trystar products are built-to-last using the highest quality
materials, top-of-the-line production equipment and
industry-leading engineering practices. At Trystar, people make the
difference, delivering unmatched value and customer support.
Trystar is Shaping the Future of Power!
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version on businesswire.com: https://www.businesswire.com/news/home/20240715847772/en/
Blackstone Matt Anderson (518) 248-7310
Matthew.Anderson@blackstone.com
Mariel Seidman-Gati (646) 482-3712
Mariel.SeidmanGati@blackstone.com
Trystar Marketing@trystar.com
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