Blackstone Takes Majority Stake in Renewable Energy-Focused Westwood
Blackstone, via its private equity business, Blackstone Energy Transition Partners, announced a majority investment in Westwood Professional Services, Inc. Blackstone acquired its position from Endurance Partners with Westwood’s management team and employee shareholders retaining a minority stake. Financial terms of the deal were not disclosed.
With a team of more than 1,600 employees, Westwood provides front-end engineering design services supporting the development of renewable energy generation, investment in the power grid and the continued buildout of public and private infrastructure across the U.S.
“With the signing of this investment, Blackstone Energy Transition Partners will have committed approximately $1.3 billion in control-oriented equity investments in the energy transition since June,” said David Foley, global head of Blackstone Energy Transition Partners.
Blackstone was represented in the transaction by Morgan Stanley & Co. LLC as financial advisor and Kirkland & Ellis as legal advisor. Perella Weinberg Partners LP served as exclusive financial advisor to Westwood. Gibson, Dunn & Crutcher LLP acted as counsel to Westwood and Endurance Partners.
