Blackstone, a prominent US asset manager, has successfully completed the acquisition of Power Grid Components (PGC), a leading electric grid components manufacturer.

PGC, founded in 2017 by CEO Rick McClure and Shorehill Capital LLC, specializes in designing and manufacturing components crucial for protection, monitoring, and safety applications in electrical substations. The acquisition aligns with Blackstone's commitment to investing in the US electrical grid, reinforcing its presence in the sector.

Power Grid Components serves as a key supplier of high-voltage disconnect switchgear, porcelain and glass insulators, and instrument transformers for revenue metering and protective relaying. The demand for grid components has surged in recent years, prompting strategic investments in companies like PGC. David Foley, Global Head of Blackstone Energy Transition Partners, highlighted the synergy of the acquisition with Blackstone's recent investments in grid-related projects and companies, emphasizing their commitment to the energy transition.

The acquisition comes at a critical time when the American Public Power Association expressed disappointment over the lack of funding for the production of distribution transformers. With lead times for transformer delivery extending to 12-18 months, Blackstone's acquisition of Power Grid Components positions the company to address challenges in the supply chain and contribute to the resilience of the US electrical grid.

Source: smart-energy.com