Blackstone to acquire Shermco from Gryphon Investors for $1.6bn.

Blackstone, an alternative asset manager, agreed to acquire Shermco, a provider of full life-cycle electrical equipment services, from Gryphon Investors, a middle-market private investment firm, for $1.6bn. “Shermco’s maintenance, testing, and commissioning services are vital to maintaining the reliability and safety of mission-critical electrical infrastructure. We are excited to partner with Phil Petrocelli and his exceptional leadership team to build on Shermco’s strong momentum and expand its ability to serve customers nationwide as a trusted provider of essential electrical services,” JP Munfa and Michael Staub, Blackstone Senior Managing Directors.