Hitachi Energy Acquires Minority Stake in Shermco in Partnership with Blackstone

Blackstone Acquires Shermco from Gryphon Investors for $1.6 Billion

October 28, 2025

Industrial Services

Blackstone’s private equity funds, including Blackstone Energy Transition Partners, have acquired Shermco from Gryphon Investors in a transaction valued at approximately $1.6 billion. Shermco, headquartered in Irving, Texas, provides electrical testing, maintenance, commissioning and engineering services to data centers, utilities and industrial clients and will be positioned to scale further under Blackstone’s energy-transition focused capital.

Shermco Industries Acquires Power Test, Inc.

April 2, 2024

Industrial Services

Shermco Industries, a Gryphon Investors–backed electrical services platform headquartered in Irving, Texas, has acquired Power Test, Inc., a NETA‑accredited electrical testing and maintenance firm based in Harrisburg, North Carolina. The acquisition expands Shermco's service footprint and capabilities in the southeastern United States; terms were not disclosed and Power Test's management will join Shermco.

Shermco Industries Acquires Power Products and Solutions (PPS)

March 11, 2025

Industrial Services

Shermco Industries has acquired Power Products and Solutions (PPS), a NETA-accredited electrical testing and breaker reconditioning specialist based in Charlotte, North Carolina. The deal (terms undisclosed) doubles Shermco's service capacity in the Charlotte area, expands its technical capabilities — including a PEARL-certified breaker shop — and strengthens the company's position across the Southeast. Shermco is majority-owned by Gryphon Investors.

Shermco Industries Acquires Eastern High Voltage, Inc.

June 17, 2025

Industrial Services

Shermco Industries has acquired Eastern High Voltage, Inc. (EHV), a NETA-accredited electrical testing and field services provider based in Robbinsville, New Jersey; terms were not disclosed. The deal expands Shermco's NETA-accredited workforce and Northeast presence, and strengthens its field-service and specialized testing capabilities; Shermco is majority-owned by Gryphon Investors.

Shermco Industries Acquires Sigma Six Solutions and Innovative Electric

June 7, 2021

Industrial Services

Shermco Industries, a Gryphon Investors-backed electrical services provider, has acquired two Pacific Northwest electrical businesses: Sigma Six Solutions (Auburn, WA) and Innovative Electric (Everett, WA). The deals expand Shermco’s testing, maintenance, commissioning and design-build electrical capabilities and strengthen its presence across the Pacific Northwest as part of a broader platform build-out.

Hitachi Energy Completes Acquisition of Remaining Stake in eks Energy

August 28, 2025

Energy

Hitachi Energy has acquired the remaining stake in eks Energy, completing its takeover after a majority investment in 2023. The deal brings eks Energy’s power-conversion and control technology (headquartered in Seville, Spain) fully into Hitachi Energy to strengthen its energy storage and power conversion capabilities worldwide.