M&A Deal Summary

The Blackstone Group Acquires Power Grid Components

On December 5, 2023, private equity firm The Blackstone Group acquired electrical equipment company Power Grid Components from Shorehill Capital

Acquisition Highlights
  • This is The Blackstone Group’s 5th transaction in the Electrical Equipment sector.
  • This is The Blackstone Group’s 199th transaction in the United States.
  • This is The Blackstone Group’s 1st transaction in Alabama.

M&A Deal Summary

Date 2023-12-05
Target Power Grid Components
Sector Electrical Equipment
Buyer(s) The Blackstone Group
Sellers(s) Shorehill Capital
Deal Type Secondary Buyout

Target

Power Grid Components

Bessemer, Alabama, United States
Power Grid Components was formed to acquire companies that supply products used in the North American electric power grid. The company supplies high-quality porcelain, glass, and polymer insulators, as well as instrument transformers for revenue metering and protective relaying to electric utilities, substation manufacturers, and other customers who support the grid. Power Grid Components is based in Bessemer, Alabama.

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Buyer(S) 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.


DEAL STATS #
Overall 318 of 335
Sector (Electrical Equipment) 5 of 6
Type (Secondary Buyout) 72 of 80
State (Alabama) 1 of 1
Country (United States) 199 of 210
Year (2023) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-29 Rover

Olympia, Washington, United States

Rover is an online marketplace for pet care that connects pet parents with pet providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, including doggy daycare, dog walking, drop-in visits, and grooming. Rover was founded in 2011 and is based in Olympia, Washington.

Buy $2.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-15 Groupe SII

Paris, France

Groupe SII is a provider of technical consultancy services. Groupe SII was founded in 1979 and is based in Paris, France.

Buy -

Seller(S) 1

DESCRIPTION

Shorehill Capital is a private equity firm focused on acquiring well-run companies with room for improvement. The Firm seeks companies operating in the engineered products, industrial services, and distribution sectors and will consider opportunities throughout North America. Shorehill prefers profitable businesses with $3 to $15 million of EBITDA. Shorehill Capital is based in Chicago, Illinois.


DEAL STATS #
Overall 2 of 2
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Alabama) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-01 Meister

North Bend, Ohio, United States

Meister is distributing high-quality porcelain insulators and porcelain bushings to Original Equipment Manufacturers (OEMs) and users of switchgear, transformers, and bus-duct. Meister was founded in 2003 and is based in North Bend, Ohio.

Buy -