M&A Deal Summary

The Blackstone Group Acquires Trystar

On July 16, 2024, private equity firm The Blackstone Group acquired electrical equipment company Trystar from Goldner Hawn Johnson & Morrison

Acquisition Highlights
  • This is The Blackstone Group’s 6th transaction in the Electrical Equipment sector.
  • This is The Blackstone Group’s 206th transaction in the United States.
  • This is The Blackstone Group’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2024-07-16
Target Trystar
Sector Electrical Equipment
Buyer(s) The Blackstone Group
Sellers(s) Goldner Hawn Johnson & Morrison
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Faegre Drinker Biddle & Reath (Legal)

Target

Trystar

Faribault, Minnesota, United States
Trystar is a manufacturer offering temporary electrical power distribution products for the power rental, industrial, commercial utility, and backup emergency markets that are experiencing secular growth stemming from increasing mobile power utilization, an aging grid, and the growing impact of natural disasters. Trystar was formed in 1992 and is based in Faribault, Minnesota.

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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 329 of 336
Sector (Electrical Equipment) 6 of 6
Type (Secondary Buyout) 77 of 80
State (Minnesota) 1 of 2
Country (United States) 206 of 211
Year (2024) 9 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-15 Air Control Concepts

Norfolk, Virginia, United States

Air Control Concepts is a company that partners with and supports leading commercial HVAC solutions providers. Air Control Concepts is based in Norfolk, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-18 Symphony Infrastructure Partners

Sydney, Australia

Symphony Infrastructure Partners develops, operates, and owns energy transition infrastructure services platform. Symphony Infrastructure Partners was founded in 2022 and is based in Sydney, Australia.

Buy -

Seller(S) 1

SELLER

Goldner Hawn Johnson & Morrison

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 825M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Goldner Hawn Johnson & Morrison (GHJ&M) is a private equity firm that targets middle market companies in the Midwest US. GHJ&M generally looks for businesses valued between $20 and $150 million and looks to invest between $10 to $25 million of equity capital per transaction. Sectors of interest include agribusiness, food, power generation, basic materials, medical products, consumer products, retail, restaurants, consumer services, business services, and industrials. GHJ&M prefers control investments, but in certain instances, the Firm will also consider minority positions. GHJ&M was formed in 1989 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 33 of 33
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 14 of 14
State (Minnesota) 11 of 11
Country (United States) 33 of 33
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-31 Matrix Adhesives Group

Bloomington, Minnesota, United States

Matrix Adhesives Group is an adhesive and sealant solutions development partner. Matrix Adhesives Group specializes in formulating, filling, blending, and contract packaging for consumer and industrial markets. Matrix Adhesives Group is based in Bloomington, Minnesota.

Buy -