Blackstone completed the acquisition of Shermco from Gryphon Investors for $1.6bn.

Blackstone, an alternative asset manager, completed the acquisition of Shermco, a provider of full life-cycle electrical equipment services, from Gryphon Investors, a middle-market private investment firm, for $1.6bn. "We are proud to have worked with CEO Phil Petrocelli and the management team to support exceptional business expansion and financial performance at Shermco, including two-fold revenue growth. We are confident the Company will continue to thrive under its new partners at Blackstone," Alex Earls, Gryphon Partner and Co-Head of the Business Services Group.