Private investment firm Gryphon Investors has agreed to sell Shermco to Blackstone for $1.6 billion. Shermco, based in Irving, Texas, offers electrical system services for data centers and utilities. With over 40 locations in the US and Canada, the company benefits from the growing demand for maintenance and repair services in AI and data centers. CEO Phil Petrocelli looks forward to future growth opportunities with Blackstone. Gryphon initially invested in Shermco in June 2018. Financial advisers Harris Williams and legal advisers Kirkland & Ellis assisted in the deal.

Read more at Yahoo Finance: Gryphon to sell Shermco to Blackstone for about $1.6 billion