Blackstone (BX) to Acquire Trystar

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.

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