- Strategic Growth: Blackstone’s acquisition aims to propel Trystar’s growth in the backup power solutions market.
- Energy Transition: Trystar’s products align with the increasing demand for power reliability amid the energy transition.
- Partnership Synergy: The collaboration leverages Blackstone’s global expertise to enhance Trystar’s market position.
Blackstone (NYSE: BX) has entered into a definitive agreement to acquire Trystar, a leading provider of electrical equipment for backup power solutions.
Trystar specializes in critical electrical power solutions for various sectors, including data centers, industrial, commercial, healthcare, and utilities. Their products are essential for ensuring power reliability, a growing priority in the current energy landscape.
“We’re thrilled to be partnering with the Trystar management team to drive the next phase of growth for the company,” said Bilal Khan, Senior Managing Director at Blackstone Energy Transition Partners. “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.”
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.”
AJ Smith, CEO of Trystar, expressed enthusiasm about the partnership: “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.”
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Legal and Financial Advisors:
- Blackstone: Kirkland & Ellis LLP (legal counsel), Houlihan Lokey (financial advisor)
- Trystar: Faegre Drinker Biddle & Reath LLP (legal counsel)
This acquisition underscores Blackstone’s commitment to supporting businesses critical to the energy transition and ensuring power reliability across various industries.