Blackstone鈥檚 energy-focused private equity business is acquiring North American electrical power solutions manufacturer Trystar.
Blackstone Energy Transition Partners is investing an unspecified amount on behalf of its funds to acquire Trystar, the company that designs and manufactures electrical power solutions for data centre, industrial, commercial, healthcare and utility end markets.
Founded in 1991, Trystar has its headquarters in Faribault, Minnesota, with a presence across the US and Canada.
Bilal Khan, senior managing director at Blackstone Energy Transition Partners, said: 鈥淲e鈥檙e thrilled to be partnering with the Trystar management team to drive the next phase of growth for the company.
鈥淏uilding on our track record of energy transition investments, we look forward to leveraging Blackstone鈥檚 global scale and deep domain expertise to further enhance Trystar鈥檚 market position.鈥�
Mark Zhu, managing director at Blackstone Energy Transition Partners, said: 鈥淭rystar鈥檚 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.鈥�
AJ Smith, CEO of Trystar, said: 鈥淲e 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.鈥�
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