Blackstone Energy Transition Partners acquires Dresser Utility Solutions
Founded in 1880 and sold by First Reserve, the company employs roughly 850 people and supplies measurement and control equipment to gas and water utilities.
Takeaways
- Dresser Utility Solutions is a provider of natural gas and water measurement, control and infrastructure equipment solutions.
- Blackstone Energy Transition Partners is acquiring Dresser Utility Solutions with backing from Blackstone.
- The target serves gas and water utilities and industrial customers across Texas.
First Reserve has agreed to sell Dresser Utility Solutions, a provider of natural gas and water measurement, control and infrastructure equipment, to Blackstone Energy Transition Partners.
Founded in 1880 and based in Houston, Dresser employs approximately 850 people globally and serves gas and water utilities and industrial customers.
Its product portfolio includes gas metering technology, digital instrumentation, pressure and flow control solutions, and infrastructure repair products.
The deal marks the first investment from the latest vintage of Blackstone’s private equity energy transition vehicle.
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