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- Blackstone’s majority investment aims to bolster renewable energy, power systems, and infrastructure.
- Westwood’s team of 1,600+ provides critical engineering services across the U.S.
- Blackstone Energy Transition Partners has committed ~$1.3 billion to energy transition investments since June.
Blackstone (NYSE: BX) announced a majority investment in Westwood Professional Services, Inc. (Westwood), a leading engineering and design firm specializing in renewables, power, real estate, and public infrastructure. This investment marks a significant step in enhancing Westwood’s capacity to support renewable energy adoption and infrastructure development across the U.S.
Darius Sepassi, Senior Managing Director, and Mitchell Nimocks, Managing Director at Blackstone Energy Transition Partners, stated, “Westwood provides crucial expertise and resources to support the increasing adoption of renewables and investment in power systems throughout the U.S. We look forward to combining Blackstone’s global scale with Westwood’s talent to enhance its valued partnerships.“
David Foley, Global Head of Blackstone Energy Transition Partners, highlighted, “Our partnership with Westwood builds upon our recent energy transition investments including Trystar and Sediver, providing services and equipment needed for a more reliable, affordable, and cleaner energy future. This investment adds to our $1.3 billion commitment to the energy transition since June.”
Bryan Powell, CEO of Westwood, expressed enthusiasm for the new partnership: “We are excited about this new partnership with Blackstone as it positions the Company to continue expanding its capabilities in key markets like renewable energy and public infrastructure, which are each poised to benefit from long-term growth. We appreciate Endurance Partners’ support in scaling Westwood into the business it is today.”
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Gerald Parsky, Chairman of Endurance, and Larry Bossidy, Chairman of Westwood, praised the management team, stating, “Westwood is an established leader in multi-disciplined professional services for the AEC industry. We are pleased to have partnered with this team, who have built a business ready to flourish with Blackstone.”
Terms of the transaction were not disclosed. Morgan Stanley & Co. LLC and Kirkland & Ellis advised Blackstone, while Perella Weinberg Partners LP and Gibson, Dunn & Crutcher LLP represented Westwood and Endurance Partners.