Blackstone to Acquire Flow Control Holdings from Audax
The Cincinnati component supplier serves data-center liquid cooling and process industries; Audax will retain a minority stake.
Blackstone agreed to acquire Flow Control Holdings, a Cincinnati-based supplier of flow-control components for data-center liquid cooling, food, beverage and pharmaceutical applications, from Audax Private Equity. Funds affiliated with Blackstone Capital Partners and Blackstone Energy Transition Partners are making the investment.
Audax will retain a minority equity stake. FCH supplies components used in coolant distribution units, in-row manifolds and secondary fluid networks.
Under Audax, the company completed ten acquisitions and invested in production and distribution facilities. Blackstone plans to support further capacity investment.
The transaction is expected to close in the fourth quarter; financial terms were not disclosed.
Get tomorrow morning's tape in your inbox.
Yesterday's platforms, add-ons, recaps, and exits, cleaned up before the workday starts.