Blackstone Inc. (BX) and Advanced Cooling Technologies, Inc., or ACT, announced on Wednesday that funds managed by Blackstone Energy Transition Partners have inked a deal to buy a majority stake in ACT.
The transaction is expected to be closed in the second quarter.
David Foley, Global Head of Blackstone Energy Transition Partners, said: "Our investment strategy focuses on identifying businesses we believe are well positioned to benefit from long-term power demand growth and the need to manage power and energy more efficiently."
Founded in 2003, ACT is a maker of thermal management and energy efficiency solutions for advanced computing, high power density, and mission-critical applications.
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