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Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion

1. Blackstone to acquire Shermco for $1.6 billion, enhancing service sector. 2. Shermco is a leading electrical services provider, indicating strategic growth.

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-0.24%S&P 500
$164.4208/21 10:10 AM EDTEvent Start
$163.4408/21 09:19 PM EDTLatest Updated
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FAQ

Why Bullish?

The strategic acquisition positions BX favorably within the electrical services market, historically leading to increased market confidence and stock price growth post-acquisition.

How important is it?

The acquisition of Shermco significantly boosts BX's portfolio, aligning with growth ambitions and strengthening market position.

Why Long Term?

This acquisition supports growth in the service sector and may enhance revenues over the long run, contributing to sustained positive investor sentiments.

Related Companies

Gryphon InvestorsNYSE: BX
NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE: BX) announced today that private equity funds affiliated with Blackstone (“Blackstone”) have entered into a definitive agreement to acquire Shermco, a leading provider of full life-cycle electrical equipment services, from Gryphon Investors, a leading middle-market private investment firm. The transaction values the business at approximately $1.6 billion. Founded in 1974, Shermco is one of the largest electrical testing organizations accredited by th.

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