Blackstone (NYSE: BX) is buying Therma Holdings LLC from Gemspring Capital. The acquisition is part of Blackstone’s strategy to support cleaner and more affordable energy.
Therma offers mechanical, electrical and controls services for the technology, life sciences, healthcare and data center sectors. “We believe an increased focus on and demand for energy efficiency and improved indoor air quality in the coming years should lead to new growth opportunities for Therma. Therma will also have the potential to help Blackstone portfolio companies meet their emissions reduction targets,” Blackstone says.
Blackstone is also buying energy sustainability consulting firm RE Tech Advisors, which will be integrated into Therma. RE Tech has been working with Blackstone portfolio companies since 2014.
Guggenheim Securities and Kirkland & Ellis are advising Blackstone. Jefferies Financial Group, Lincoln International and McDermott Will & Emery LLP are advising Therma.