Mergers & Acquisitions

Shermco Industries Acquired by Blackstone

6649 Shermco Industries NT PENDING

M&A Engagement Overview

Industry Group: Energy, Power & Infrastructure
Areas of Focus: Substation, Utility Services

Harris Williams advised Shermco Industries, a portfolio company of Gryphon Investors, on their sale to Blackstone for approximately $1.6 billion.

Electrical maintenance, repair, testing, commissioning, and engineering and design services are crucial and remain a highly attractive area of focus for buyers. Industry dynamics, including aging electrical infrastructure, rapid technological advancements, increasing regulatory complexities, and the critical need for system reliability and safety drive robust demand. These factors necessitate continuous inspection, modernization, and proactive maintenance of essential electrical systems to ensure operational efficiency and resilience. 

Shermco provides critical electrical system maintenance, repair, testing, commissioning, and engineering and design services for data centers, utilities, and other diversified commercial and industrial end-markets. The company is one of the largest electrical testing organizations accredited by the InterNational Electrical Testing Association (NETA), with more than 600 NETA technicians and 200 engineers across 40 service centers in the U.S. and Canada. 

Shermco’s testing, engineering, maintenance, and repair services are vital to maintaining the safety, reliability, and efficiency of mission-critical electrical infrastructure. The company’s scaled NETA workforce, coupled with their strategic go-to-market strategy, has established them as a trusted partner for their customers, enabling sustainable growth. 

Shermco views their partnership with Blackstone as a pivotal advancement in their growth journey. Leveraging Blackstone's scale, resources, and extensive expertise in the energy industry enhances Shermco’s ability to serve customers’ critical power system needs.

The collaboration also supports the expansion of the company’s footprint and capabilities, benefiting their talented technicians and engineers. Shermco remains steadfast in their commitment to safety, service, and excellence throughout this future growth. 

Contact the Harris Williams Energy, Power & Infrastructure Group to learn more about this client engagement.

Harris Williams is a global investment bank specializing in M&A and private capital advisory services. Clients worldwide rely on us to help unlock value in their business and turn ambitious goals into reality. We approach every engagement with boundless collaboration, pooling expertise and relationships across industries and geographies. For over 30 years, our clients have trusted us to think strategically, execute precisely, and deliver superior outcomes to help them grow.


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