Blackstone Inc. is reportedly nearing the acquisition of MacLean Power Systems, a U.S.-based manufacturer of utility parts, in a deal potentially valuing the company at over $4 billion. The private equity firm is expected to announce the purchase from Centerbridge Partners, which acquired a majority stake in MacLean in 2022.

MacLean Power Systems, headquartered in Fort Mill, South Carolina, provides anchoring systems, grounding products, and other components for electric power transmission and distribution. The deal would mark Blackstone’s latest investment in the infrastructure and energy sector, following acquisitions of TXNM Energy Inc., Power Grid Components Inc., and Sabre Industries Inc. in recent years.

Rising electricity demand in the U.S., driven by AI data center construction and broader electrification, has made utility components a growing market for private equity investment. Blackstone’s infrastructure arm has previously purchased TXNM Energy for $5.7 billion, and continues to expand its portfolio in the power transmission space.

Other potential buyers, including ABB Ltd., reportedly opted not to raise offers for MacLean. While discussions are reportedly advanced, the deal remains subject to finalization.

Source: bloomberg.com