Blackstone Acquires RE Tech Advisors

NEW YORK & SAN JOSE, November 9, 2020 – Today, Blackstone (NYSE: BX) announced that private equity funds managed by Blackstone Energy Partners have entered into a definitive agreement to acquire Therma Holdings LLC (“Therma”), a portfolio company of Gemspring Capital. The acquisition of Therma continues Blackstone’s support for the transition to cleaner, affordable energy.

Therma is a leading specialty mechanical, electrical and controls services company focused on designing, building, and servicing complex systems in mission-critical facilities. Therma’s 2,200 professionals and engineers deliver services that are core to improving and maintaining energy efficiency for leading companies across the technology, life sciences, healthcare and data center sectors.