Blackstone Inc is reportedly nearing a deal to acquire MacLean Power Systems from Centerbridge Partners, in a transaction that could value the utility-parts business at more than $4bn, according to a report by Bloomberg, with an announcement potentially coming as early as next week.
Based in Fort Mill, South Carolina, MacLean is a maker of anchoring systems, grounding products and other components essential for electric-power transmission and distribution. In 2022, Centerbridge acquired a majority stake in the company.
The transaction would be part of wider energy investment from Blackstone, after it purchased TXNM Energy Inc for about $5.7bn this year.
Blackstone reportedly out-bid several interested parties, including the Swiss industrial firm ABB Ltd., which opted not to raise its offer. While the deal is at an advanced stage, sources cautioned that negotiations remain subject to final approvals and could still be delayed or fall through.
