Blackstone Energy Transition Partners Announces Agreement to Acquire Majority Stake in Advanced Cooling Technologies
Blackstone Inc. (BX)
Last blackstone inc. earnings: 4/23 06:56 am
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Source: Business Wire
NEW YORK & LANCASTER, Pa.--(BUSINESS WIRE)--Blackstone (NYSE: BX) and Advanced Cooling Technologies, Inc. (“ACT”) announced today that funds managed by Blackstone Energy Transition Partners (“Blackstone”) have entered into a definitive agreement to acquire a majority stake in ACT, a leading U.S. manufacturer of highly-engineered thermal management and energy efficiency solutions. ACT's executive team will remain in place and continue as significant shareholders in the business.Founded in 2003 and headquartered in Pennsylvania, ACT designs and manufactures highly-engineered thermal management and energy efficiency solutions for advanced computing, high power density, and mission-critical applications. The company’s innovative solutions include two-phase liquid cooling, heat pipes, phase change materials, cold plates, environmental control units, and composite thermal and structural systems. ACT has thrived not only on their product and technology portfolio, but their unique ability
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