Blackstone increases investment in the electrification sector: acquires electrical equipment service provider Shermco for $1.6 billion
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Blackstone acquired electrical equipment service provider Shermco for $1.6 billion, further strengthening its position in the electrification sector. This transaction values Shermco at $1.6 billion and involves electrical system maintenance, repair, and testing services. The Blackstone Energy Transition Investment Company, led by David Foley, has recently completed several transactions, including the acquisition of Enverus for over $6 billion. The fund's internal rate of return is approximately 25%
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