In yet another deal for data infrastructure services, Blackstone said Thursday its affiliated funds have acquired Shermco, an electrical services company based in Irving, for $1.6 billion.
The company is being acquired from Gryphon Investors, a San Francisco private equity firm that purchased its majority stake in Shermco in June 2018 for a reported $1.1 billion.
Vinson & Elkins advised Blackstone while Kirkland & Ellis counseled Shermco and Gryphon on the deal.
Specific terms of the deal were undisclosed.
Founded in 1974, Shermco provides life-cycle engineering, testing, repair and support for industrial electric equipment for utilities, data centers and other industrial and commercial needs. The company is one of the largest accredited electrical testing organizations as determined by the InterNational Electrical Testing Association.
Said David Foley, global head of Blackstone Energy Transition Partners: “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.”
Stifel acted as financial advisor to Blackstone. Harris Williams were the financial advisors to Shermco/Gryphon.
The V&E team advising Blackstone was led by partner Robert Hughes (Houston) and senior associate Jordan Fossee (Houston). They were assited by senior associate Chandler Jones (Houston) and associates Michelle Yang (Houston), Rylie Goldwait (Houston) and Hannah Avery(Houston). Also advising were partners Jason McIntosh and Brian Russell (Dallas) and associate Patrick Darby (Dallas) on taxes; partner Sarah Mitchell (Dallas), senior associate (Dallas) and associates Leah Powers (Dallas) and Hana Arriaga (Dallas) on corporate issues; partner Becky Baker (Houston) senior associate Peter Goetschel (Houston) on employment.
Partner Shane Tucker (Dallas) and associate Reagan Gregory (Houston) advised on benefits; partners Caitlin Turner (New York) and David Wicklund (New York) and associate Megan Hardy (New York) on finance; partner Jamie Tabb (Washington, D.C.), counsel Tyler Robinson (Washington, D.C.) and associates Alex Sprenger (Washington, D.C.) and Gabrielle Gunshol (Washington, D.C.) on government contracts; partner Fry Wernick (Washington, D.C.) counsel Brian Howard (Washington, D.C.) senior associate Pete Thomas (Dallas)and associate Mike Crowley (Washington, D.C.)on anti-corruption issues; partners Randall Johnston (Washington, D.C.)and Joyce Adetutu (Houston) and senior associate Frankie Velez (Washington, D.C.) on sanctions and international trade; partner Matt Dobbins (Houston) and senior associate Kelly Rondinelli (Washington, D.C.)on environmental matters; counsel Rajesh Patel (Houston) and senior associate Haley Titcomb (Austin) on intellectual property; partner Courtney Hammond (Dallas) and associate Chase Woods (Dallas) on real estate; partner Evan Miller (Washington, D.C.) on antitrust; and partner Jamie Leader (Houston) and associate Jacqueline Edmonds (Houston) on potential litigation issues.
The Kirkland team advising Shermco and Gryphon was led by Noah Boyens (San Francisco) and Michael Hanna (San Francisco).
Shermco has been highly active of late as an acquisition platform for Gryphon, acquiring within the last year: Eastern High Voltage in June 2025, R2L Engineering in May 2025, Power Products & Solutions in March 2025 and KTR Associates in October 2024.
Shermco now includes 600 NETA technicians and 200 engineers in 40 service centers in the U.S. and Canada.