Blackstone Energy Transition Partners agreed on 6 July to acquire Dresser Utility Solutions, a maker of measurement, control and repair equipment for gas and water utilities, from First Reserve.
Why Blackstone Energy Transition Partners is buying Dresser Utility Solutions
Blackstone said Dresser's products are foundational to safe and reliable gas and water networks as demands on the grid grow, and it will use its scale to help the company innovate and grow.
“This transaction marks an exciting milestone for Dresser and reflects the exceptional work of our entire team.”
Deal terms and financing
Terms were not disclosed.
Regulatory approvals and timing
The transaction is subject to customary closing conditions.
Market context
Dresser traces its history to 1880 and helps utilities modernise ageing infrastructure.
