Blackstone Acquires Shermco from Gryphon Investors for $1.6 Billion

Hitachi Energy Acquires Minority Stake in Shermco in Partnership with Blackstone

October 29, 2025

Energy

Hitachi Energy has acquired a minority stake in Shermco, a leading North American electrical services provider, in partnership with Blackstone Energy Transition Partners. The strategic investment aims to expand Hitachi Energy's service capabilities across North America, accelerate Shermco's growth, and develop new digital service offerings to improve grid reliability and asset lifecycle management.

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 KTR Associates

October 15, 2024

Engineering Services

Shermco Industries has acquired KTR Associates, a Sinking Spring, Pennsylvania-based power system engineering firm. The acquisition (terms not disclosed) will expand Shermco's geographic footprint and engineering capabilities; KTR's principal owner Joseph Deane and the KTR team will remain with the business. Shermco is majority‑owned by Gryphon Investors.

Shermco Industries Acquires R3L Engineering

May 20, 2025

Industrial Services

Shermco Industries, a PE-backed electrical testing and power-systems services provider, has acquired R3L Engineering to expand its technical engineering capabilities and strengthen its presence in the Birmingham, Alabama area. The acquisition expands Shermco’s regional workforce and ability to serve industrial and utility customers across Alabama and the Southeastern United States; terms were not disclosed.

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 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.