Businesses
Here's a look at documents from U.S. and international businesses
Featured Stories
Marcus & Millichap Closes $24M Sale of Prime Glendale Commercial Site
ENCINO, California, Aug. 23 -- Marcus and Millichap issued the following news release:
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Marcus & Millichap Closes $24M Sale of Prime Glendale Commercial Site
GLENDALE, Calif., Aug. 21, 2025 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the $24 million sale of a vacant 33,818-square-foot commercial site most recently occupied by JoAnn Fabrics in Glendale, California.
"The property was vacant for less than 30 days prior to going under contract and subsequently
... Show Full Article
ENCINO, California, Aug. 23 -- Marcus and Millichap issued the following news release:
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Marcus & Millichap Closes $24M Sale of Prime Glendale Commercial Site
GLENDALE, Calif., Aug. 21, 2025 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the $24 million sale of a vacant 33,818-square-foot commercial site most recently occupied by JoAnn Fabrics in Glendale, California.
"The property was vacant for less than 30 days prior to going under contract and subsequentlyclosed in just 30 days with a 15-day due diligence period," said Sheila Alimadadian, senior director investments in Marcus & Millichap's Orange County office. "This quick timeline reflects strong demand for well-located infill sites in Southern California's high-barrier-to-entry submarkets. The offering generated significant interest from a wide range of prospective buyers, including developers, investors, owner-users, and national tenants, resulting in multiple qualified offers within the first two weeks." Alimadadian represented the seller, Aria Investments LLC, and procured the buyer, the City of Glendale, which plans to develop a park and recreation center on the 2.4-acre site at S. Central Avenue and Chevy Chase Drive. "The city outpaced competing bids from supermarket chains, medical users, and other prospective buyers by offering a fast close, competitive pricing that included closing costs, and a public-benefit vision for the site," added Alimadadian.
Built in 1966 and renovated in 2013, the building had been leased to JoAnn Fabrics for more than 11 years. Prior to that, it operated as an Albertsons with a Sav-On Pharmacy. The site offers more than 468 feet of frontage along S. Central Avenue and Chevy Chase Drive, with visibility to over 40,000 vehicles per day and proximity to multiple transit options.
"The combination of a prime location, fast timeline and a public benefit made this transaction unique," Alimadadian concluded. "It's rare to see a vacant big-box retail site in a market like Glendale turn into a community park, and even rarer for it to happen this quickly."
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
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Original text here: https://www.marcusmillichap.com/news-events/press/2025/08/marcus-millichap-closes-24m-sale-of-prime-glendale-commercial-site
[Category: BizRealEstate]
Temple University Hospital's Advanced Pulmonary Hypertension, Right Heart Failure & CTEPH/PTE Heart Program Achieves Twin Milestones
PHILADELPHIA, Pennsylvania, Aug. 22 -- Temple Health, an academic health system that says it is driving medical advances through clinical innovation, pioneering research and world-class education, issued the following news:
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Temple University Hospital's Advanced Pulmonary Hypertension, Right Heart Failure & CTEPH/PTE Heart Program Achieves Twin Milestones
Temple University Hospital's (TUH) Advanced Pulmonary Hypertension, Right Heart Failure & CTEPH/PTE Heart Program within the Temple Heart and Vascular Institute recently achieved two important clinical milestones by performing its 500th
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PHILADELPHIA, Pennsylvania, Aug. 22 -- Temple Health, an academic health system that says it is driving medical advances through clinical innovation, pioneering research and world-class education, issued the following news:
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Temple University Hospital's Advanced Pulmonary Hypertension, Right Heart Failure & CTEPH/PTE Heart Program Achieves Twin Milestones
Temple University Hospital's (TUH) Advanced Pulmonary Hypertension, Right Heart Failure & CTEPH/PTE Heart Program within the Temple Heart and Vascular Institute recently achieved two important clinical milestones by performing its 500thpulmonary thromboendarterectomy (PTE) and 500th balloon pulmonary angioplasty (BPA) - two treatments for patients with Chronic Thromboembolic Pulmonary Hypertension (CTEPH).
"We are extremely proud to have achieved 1,000 combined PTEs and BPAs," said Anjali Vaidya, MD, FACC, FASE, FACP, Professor of Medicine at the Lewis Katz School of Medicine at Temple University and Director of the Advanced Pulmonary Hypertension, Right Heart Failure & CTEPH Program at Temple University Hospital. "The Temple Heart and Vascular program has grown rapidly since its inception in 2013, becoming the largest CTEPH center in the Eastern United States. Our success is a testament to the dedication of our team, including specially trained heart failure specialists, surgeons, and interventional cardiologists."
CTEPH is an increasingly recognized and often fatal form of elevated blood pressure in the circulation of the lungs resulting from a blood vessel that has been blocked by a prior pulmonary embolism (PE). The clots - which extend within the artery, cling to the artery wall and resemble scar tissue - block blood flow between the two sides of the heart. This increases pulmonary pressure and can cause a variety of serious problems, including debilitating shortness of breath and right-sided heart failure.
PTE is a highly specialized surgery in which a cardiovascular surgeon removes the clots. This involves placing the patient on a heart-lung machine, which temporarily takes over the duties of a patient's heart and lungs to keep blood circulating. The patient's body temperature is cooled to 65 degrees Fahrenheit, which slows down the metabolism and allows the surgeons to periodically pause circulation. This gives surgeons time and visibility to open the affected arteries and remove the chronic clots and scar tissue that are obstructing circulation. Once the clots are removed and the patient has a successful post-operative recovery, the result of this surgery for CTEPH is often curative.
"PTE is performed at only a handful of hospitals in the U.S., and we are pleased to be able to offer our patients this advanced surgical option with a 95% survival rate," said Yoshiya Toyoda, MD, PhD, Professor and the William Maul Measey Chair of Surgery at the Katz School of Medicine & Chief of Cardiovascular Surgery at TUH. "The improvements patients experience after surgery are life changing."
In addition to PTE surgery, this twin milestone also includes the expertise of Temple's interventional cardiologists for BPA.
"For CTEPH patients who are not candidates for PTE surgery, or who have additional small clots after PTE surgery, BPA is a less invasive option that can help improve symptoms," said Vladimir Lakhter, DO, Associate Professor of Medicine at the Katz School of Medicine.
The procedure uses small balloons to slowly open blood vessels that have been chronically blocked. This restores blood flow to the lungs, and reduces shortness of breath, fatigue and chest pain.
"BPA at Temple's Heart and Vascular Institute has been shown to significantly improve pulmonary hypertension symptoms, heart function, and quality of life - with very low complication rates," said Riyaz Bashir, MD, FACC, Professor of Medicine at the Katz School of Medicine and Director of Vascular and Endovascular Medicine at Temple University Hospital.
"The integration of PTE surgery, BPA, and medical management within our highly experienced pulmonary hypertension program provides comprehensive treatment options so patients can receive the best possible outcome," said Martin G. Keane, MD, FACC, FAHA, Professor of Medicine at the Katz School of Medicine, Chief of Cardiology at TUH and Medical Director of the Temple Heart & Vascular Institute.
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Original text here: https://www.templehealth.org/about/news/temple-university-hospitals-advanced-pulmonary-hypertension-right-heart-failure-and-ctephpte-heart-program-achieves-twin-milestones
[Category: BizHospital]
Pennsylvania American Water Secures PFAS Compliance in Audubon Just Weeks After Acquisition
CAMDEN, New Jersey, Aug. 22 [Category: BizWater] -- American Water, a water and wastewater company, posted the following news release:
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Pennsylvania American Water Secures PFAS Compliance in Audubon Just Weeks After Acquisition
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NORRISTOWN, Pa. (Aug. 21, 2025) - Pennsylvania American Water announced today that its recently acquired Audubon system in Lower Providence Township now meets all current state standards for PFOS and PFOA (PFAS)and other water quality benchmarks.
"Our company's top priority is to deliver clean, safe and reliable water to our customers," said Justin Brame, senior
... Show Full Article
CAMDEN, New Jersey, Aug. 22 [Category: BizWater] -- American Water, a water and wastewater company, posted the following news release:
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Pennsylvania American Water Secures PFAS Compliance in Audubon Just Weeks After Acquisition
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NORRISTOWN, Pa. (Aug. 21, 2025) - Pennsylvania American Water announced today that its recently acquired Audubon system in Lower Providence Township now meets all current state standards for PFOS and PFOA (PFAS)and other water quality benchmarks.
"Our company's top priority is to deliver clean, safe and reliable water to our customers," said Justin Brame, seniormanager of operations for Pennsylvania American Water. "We're proud to report Audubon's water now meets all federal and state standards."
Compliance with standards was met after Pennsylvania American Water put into service an interconnection with its Norristown system and shut off all wells contaminated with PFAS that previously sourced water to customers.
"Since Pennsylvania American Water took ownership of the Audubon system, we've seen a level of responsiveness and expertise that's made a real difference for our community," said E.J. Mentry, Lower Providence Township Manager. "They are moving quickly to improve the system and provide access to safe, reliable water for residents."
Three wells that previously sourced water for Audubon exceeded Pennsylvania Department of Environmental Protection (DEP) maximum contaminant levels for PFAS.
Brame added that the Audubon system posed several immediate challenges, stating, "Once we finalized the acquisition on May 28, we quickly mobilized all available resources to evaluate the situation and began addressing the issues without delay."
The company's prompt response allowed it to lift a conservation notice issued by Audubon Water Company in May 2023, before Pennsylvania American Water assumed ownership, and repaired five major leaks that caused the system to lose about 50,000 gallons of water daily.
The system upgrades are part of Pennsylvania American Water's long-term investment plan for Audubon, totaling around $21.5 million over the next five years. Improvements will involve replacing water mains, upgrading treatment and modernizing control systems to maintain reliability and compliance.
About Pennsylvania American Water
Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), is the largest regulated water utility in the state, providing safe, clean, reliable and affordable water and wastewater services to approximately 2.4 million people.
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Original text here: https://amwater.com/press-room/press-releases/pennsylvania/pennsylvania-american-water-secures-pfas-compliance-in-audubon-just-weeks-after-acquisition
Gap to Participate in the 32nd Annual Goldman Sachs Global Retailing Conference
SAN FRANCISCO, California, Aug. 22 -- Gap, a retailer of clothing and accessories, issued the following news release on Aug. 21, 2025:
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Gap Inc. to Participate in the 32nd Annual Goldman Sachs Global Retailing Conference
Gap Inc. (NYSE: GAP), today announced that Richard Dickson, President and Chief Executive Officer, will participate in a fireside chat at the 32nd Annual Goldman Sachs Global Retailing Conference in New York, NY on Thursday, September 4, 2025 at 9:35 a.m. Eastern Time.
A live webcast will be available online at investors.gapinc.com and, following the event, a replay of
... Show Full Article
SAN FRANCISCO, California, Aug. 22 -- Gap, a retailer of clothing and accessories, issued the following news release on Aug. 21, 2025:
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Gap Inc. to Participate in the 32nd Annual Goldman Sachs Global Retailing Conference
Gap Inc. (NYSE: GAP), today announced that Richard Dickson, President and Chief Executive Officer, will participate in a fireside chat at the 32nd Annual Goldman Sachs Global Retailing Conference in New York, NY on Thursday, September 4, 2025 at 9:35 a.m. Eastern Time.
A live webcast will be available online at investors.gapinc.com and, following the event, a replay ofthe webcast will be available at the same location.
Forward-Looking Statements
This webcast may contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," "project," and similar expressions also identify forward-looking statements.
Because forward-looking statements involve risks and uncertainties, there are important factors that could cause the company's actual results to differ materially from those in any forward-looking statements. Information regarding factors that could cause results to differ can be found in the company's Annual Report on Form 10-K for the fiscal year ended February 1, 2025, as well as the company's subsequent filings with the Securities and Exchange Commission. The company assumes no obligation to publicly update or revise any forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
About Gap Inc.
Gap Inc., a purpose-driven house of iconic brands, is the largest specialty apparel company in America. Its Old Navy, Gap, Banana Republic, and Athleta brands offer clothing, accessories, and lifestyle products for men, women and children available worldwide through company-operated and franchise stores, and e-commerce sites. Since 1969, Gap Inc. has created products and experiences that shape culture, while doing right by employees, communities and the planet through its commitment to bridge gaps to create a better world. For more information, please visit www.gapinc.com.
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Original text here: https://www.gapinc.com/en-us/articles/2025/08/gap-inc-to-participate-in-the-32nd-annual-goldman-
[Category: BizConsumer Services]
Four Seasons Resort The Nam Hai Unveils Redesigned One-Bedroom and Family Villas
TORONTO, Ontario, Aug. 22 [Category: TravelBiz] -- Four Seasons Hotels and Resorts posted the following news release:
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Four Seasons Resort The Nam Hai Unveils Redesigned One-Bedroom and Family Villas
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Four Seasons Resort The Nam Hai unveils its newly refurbished One-Bedroom Villas and Family Villas, revealing a renewed expression of luxury beachfront living in central Vietnam. A total of 60 villa units will be available for booking, with the final phase of renovation currently underway. At present, 43 villas are open for guests to enjoy, while the remaining 17 villas are expected to be
... Show Full Article
TORONTO, Ontario, Aug. 22 [Category: TravelBiz] -- Four Seasons Hotels and Resorts posted the following news release:
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Four Seasons Resort The Nam Hai Unveils Redesigned One-Bedroom and Family Villas
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Four Seasons Resort The Nam Hai unveils its newly refurbished One-Bedroom Villas and Family Villas, revealing a renewed expression of luxury beachfront living in central Vietnam. A total of 60 villa units will be available for booking, with the final phase of renovation currently underway. At present, 43 villas are open for guests to enjoy, while the remaining 17 villas are expected to becompleted by mid-December 2025.
Transformed by Hirsch Bedner Associates (HBA) Singapore, the villas reaffirm the spirit of the original design by architect Reda Amalou of Paris-based AW2 and late interior designer Jaya Ibrahim, introducing contemporary refinements while preserving the essential character that has defined the Resort since its inception. With open views of tropical gardens and the East Sea, the revamped villas are designed for couples and families seeking space, stillness and a deeper connection to the surrounding natural beauty.
Through the renovation, the One-Bedroom Villa has not only undergone a stunning interior transformation but has also increased in size from 80 sqm to 87 sqm. Similarly, the Family Villa has expanded from 104 sqm to 108 sqm, providing guests with even more spacious accommodations to enjoy their stay.
"Four Seasons Resort The Nam Hai has always endeavoured to maintain a sense of place while anticipating the needs of today's traveller," says Marcel Oostenbrink, General Manager. "This renovation preserves that intention, while bringing in new warmth and intimacy. It's a continuation of, not a departure from, a design narrative that's very much rooted in the region."
A Living Design Legacy
Guided by respect for legacy and love for detail, the redesign of the One-Bedroom Villas and Family Villas reflects a dialogue between Vietnamese heritage and contemporary elegance.
Envisioned from the outset as a modern-day interpretation of the garden houses of Hue, the former imperial capital of Vietnam, each villa retains its architectural bones - a timber roof, an elevated sleeping platform and an uninterrupted line of sight from bed to sea. Within this familiar frame, a thoughtful transformation quietly reveals itself.
A refreshed, lighter colour palette with chartreuse and mustard accents resonates with the surrounding landscape, while artisanal materials and locally inspired silhouettes speak to the region's enduring craft traditions.
Craft, Comfort, Composition
Anchoring the living area, a newly introduced bay window draws in abundant natural light, while a plush daybed creates a serene nook for reading, rest or reflection. The central sleeping pavilion - a signature feature of the original design - has been reimagined with sunset-toned ombre drapery and pendant lighting inspired by traditional non la hats.
Positioned for privacy, a second daybed provides a cozy hideaway for lounging and afternoon siestas. Grounding the space in structure and purpose are a dresser that also serves as a writing desk and nightstands in a stunning crackled eggshell finish. In the Family Villas, a sectioned-off lounge doubles as a kids' room, complete with a sofa-bed, bathroom with shower, and other comforts for young guests.
Expanded bathrooms feature a striking interplay of textures and colours with bold Panda White marble, artisanal floor tiles and a seeded glass lantern. The redesigned vanity counter recalls traditional Vietnamese cabinetry, while a window frames the free-standing bathtub. Bath rituals now come with views of the lush garden and rain shower area, inviting guests to relax in a harmonious blend of nature and luxury.
Inclusions such as discreet lighting, Dyson hairdryers, Bang & Olufsen Bluetooth speakers, wireless phone chargers, yoga mats and 55-inch smart TVs are found in each villa, integrating intuitive comfort and functionality.
To experience the redesigned villas and reserve a stay at Four Seasons Resort The Nam Hai, contact reservations.hoian@fourseasons.com, call +84 235 394 0000 or visit the offers page here.
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Original text here: https://press.fourseasons.com/hoian/hotel-news/2025/redesigned-one-bedroom-and-villas
Delaware North Unveils First Phase of New Dining Concepts at Boise Airport
BUFFALO, New York, Aug. 22 -- Delaware North issued the following news release:
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Delaware North unveils first phase of new dining concepts at Boise Airport
BOISE, IDAHO (August 21, 2025) - Delaware North, a global leader in hospitality and entertainment, has officially launched the first phase of its reimagined food and beverage program at Boise Airport (BOI), introducing a dynamic mix of local favorites designed to reflect the city's vibrant culture and culinary spirit.
The program builds on the company's decadelong partnership with the airport and aims to elevate the traveler experience
... Show Full Article
BUFFALO, New York, Aug. 22 -- Delaware North issued the following news release:
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Delaware North unveils first phase of new dining concepts at Boise Airport
BOISE, IDAHO (August 21, 2025) - Delaware North, a global leader in hospitality and entertainment, has officially launched the first phase of its reimagined food and beverage program at Boise Airport (BOI), introducing a dynamic mix of local favorites designed to reflect the city's vibrant culture and culinary spirit.
The program builds on the company's decadelong partnership with the airport and aims to elevate the traveler experiencethrough thoughtful, community-rooted concepts.
"We are immensely proud of our accomplishments in creating an experiential foodservice program that embodies the unique spirit of Boise," said Scott Socha, group president of Delaware North Travel, Parks and Resorts and Australia divisions. "For the past decade, our commitment to quality and variety has defined our presence in Boise, with our offerings reflecting the city's vibrant outdoors, thriving art scene and rich culinary traditions."
The program was developed in close collaboration with the City of Boise and local partners.
"One of the things we're most excited about with our new concessions is how local they are. Passengers will see restaurants and retail products at the airport that they also see throughout Boise," said Boise Airport Director Rebecca Hupp. "And we're not just replacing existing shops and restaurants, we're adding new ones. Passenger traffic at the Boise Airport has increased by more than 80% over the past 10 years and we've added food, beverage and retail capacity to keep up with the growth."
Featured Delaware North concepts in Phase 1 include:
* Treefort Outpost Food + Drink: A full-service restaurant inspired by the iconic Treefort Music Fest, offering breakfast, lunch and light dinner fare alongside a full bar. The venue celebrates Boise's creative community and serves as a cultural gateway for travelers.
"Treefort has always been about highlighting Boise's vibrant music and creative culture," said Eric Gilbert, co-founder of Treefort Music Fest. "Treefort Outpost allows us to extend that spirit to the Boise Airport - so travelers can feel the energy of our city the minute they arrive or right before they head out."
* Turas Flights and Bites: A wine bar created exclusively for BOI, Turas (which means "journey" in Irish Gaelige) tells the story of the region's unique wineries. Travelers can enjoy wine from Telaya Wine Co. and other local wineries, plus Basque-inspired small plates.
Earl and Carrie Sullivan, owners of Telaya Wine Co. said: "We couldn't be happier to be licensing a local name to the airport. The focus on supporting local is a true Idaho value, and the airport and Delaware North are showing that they want to focus on our small, family-owned business and give back to Idaho by opening Turas Flights and Bites."
* The STIL Scoops, Pints & Pours: The STIL stands for "The Sweetest Things in Life." Offering small-batch ice cream from Idaho milk and cream, infusing add-ins and flavors inspired by the local landscape and lifestyle. The STIL offers a selection of signature creations, and travelers can pair their favorite scoop with a curated selection of local beers and wines at the bar.
"We're thrilled at the opportunity to have The STIL represented at the Boise Airport alongside other great Boise companies," Kasey Allen, founder and owner of The STIL said. "Delaware North has put together a great collection of local options for travelers to enjoy, and we can't wait to serve The Sweetest Things In Life to those coming, going and passing through Boise!"
* Waffle Me Up: A Boise-born favorite known for its sweet and savory waffle creations, now offering travelers a taste of local comfort food on the go.
* The Idaho Tap House: A celebration of Idaho's booming craft beer scene, this concept features a rotating selection of local brews and pub-style fare in a relaxed, welcoming setting.
Additional concepts, including Blue Sky Bagels, Form + Function, Up and Away Cafe, Starbucks, Pizza Hut, Wendy's and Protein Bar & Kitchen, in addition to the reimagined Bardenay restaurant, are slated to open in subsequent phases.
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Original text here: https://media.delawarenorth.com/delaware-north-unveils-first-phase-of-new-dining-concepts-at-boise-airport/
[Category: BizTravel]
Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion
NEW YORK, Aug. 22 -- Blackstone, an investment firm, issued the following news release:
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Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion
New York, NY - August 21, 2025 - Blackstone (NYSE: BX) announced today that private equity funds affiliated with Blackstone ("Blackstone") have entered into a definitive agreement to acquire Shermco, a leading provider of full life-cycle electrical equipment services, from Gryphon Investors, a leading middle-market private investment firm. The transaction values the business at approximately $1.6 billion.
Founded in 1974,
... Show Full Article
NEW YORK, Aug. 22 -- Blackstone, an investment firm, issued the following news release:
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Blackstone Announces Agreement to Acquire Shermco for Approximately $1.6 Billion
New York, NY - August 21, 2025 - Blackstone (NYSE: BX) announced today that private equity funds affiliated with Blackstone ("Blackstone") have entered into a definitive agreement to acquire Shermco, a leading provider of full life-cycle electrical equipment services, from Gryphon Investors, a leading middle-market private investment firm. The transaction values the business at approximately $1.6 billion.
Founded in 1974,Shermco is one of the largest electrical testing organizations accredited by the InterNational Electrical Testing Association ("NETA"), providing comprehensive electrical system maintenance, repair, testing, commissioning and design services, with more than 600 NETA technicians and 200 engineers across 40 service centers in the U.S. and Canada. Shermco provides critical services for data centers, utilities and diversified commercial and industrial end-markets, partnering with customers to enhance the safety, reliability and efficiency of their critical electrical infrastructure, while minimizing downtime and outages.
JP Munfa and Michael Staub, Senior Managing Directors at Blackstone, said: "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."
David Foley, Global Head of Blackstone Energy Transition Partners, added: "As a leading energy investor focused on investment opportunities related to increasing electrification and the energy transition, we proactively seek out companies with strong, entrepreneurial management and work with them to fully capitalize on growth opportunities, building scale and competitive advantage. Shermco is well positioned to benefit from continued growth in the installed base of technically complex electrical equipment both on the grid and behind the meter and is the twelfth investment commitment from our most recent energy transition fund since the initiation of its investment period in June last year."
Phil Petrocelli, CEO of Shermco, said: "Partnering with Blackstone marks an exciting next step in our growth trajectory. Together with its scale, resources and deep expertise across the energy industry, we're excited to continue serving our customers' critical power-system needs and expand our footprint and capabilities for our talented technicians and engineers - all while maintaining Shermco's unwavering commitment to safety, service and excellence."
Shermco represents the latest in a number of recent transactions Blackstone Energy Transition Partners has announced behind its high-conviction investment themes in electrification and the ongoing energy transition, including Enverus, Lancium, Power Grid Components, Potomac Energy Center, Sediver, Trystar, Westwood, and others. Blackstone Energy Transition Partners and Blackstone's private equity strategy for individual investors are each expected to invest in Shermco as part of this transaction.
Stifel and JPMorgan acted as financial advisors and Vinson & Elkins acted as a legal advisor to Blackstone. Harris Williams served as a financial advisor and Kirkland & Ellis served as a legal advisor to Gryphon Investors and Shermco.
About Blackstone Energy Transition Partners
Blackstone Energy Transition Partners is Blackstone's energy-focused private equity business, a leading energy investor with a successful long-term record, having committed over $27 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders. Further information is available at https://www.blackstone.com/our-businesses/blackstone-energy-transition-partners/.
About Shermco
Headquartered in Irving, TX, Shermco provides electrical testing, maintenance, commissioning and repair services to a wide range of utility, industrial, energy and other end markets. With more than 40 locations, Shermco serves a diversified blue-chip client base across North America. The Company is an active participant in NETA (the InterNational Electrical Testing Association), EASA (Electrical Apparatus Service Association), and ACP (American Clean Power Association). For more information, visit www.shermco.com.
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Original text here: https://www.blackstone.com/news/press/blackstone-announces-agreement-to-acquire-shermco-for-approximately-1-6-billion/
[Category: BizFinancial Services]
