Blackstone and Advanced Cooling Technologies, Inc. (ACT) said funds managed by Blackstone Energy Transition Partners have entered into a definitive agreement for Blackstone to acquire a majority stake in ACT. ACT’s executive team will remain in place and continue as significant shareholders. The transaction is expected to close in the second quarter, subject to customary conditions.
Founded in 2003 and headquartered in Pennsylvania, ACT designs and manufactures thermal management and energy efficiency solutions for advanced computing, high power density and mission-critical applications. Its product portfolio includes two-phase liquid cooling, heat pipes, phase change materials, cold plates, environmental control units, and composite thermal and structural systems.
Blackstone said its investment is intended to help ACT maintain its level of service while adding capacity and capabilities for its customer base. The companies said ACT serves customers that require thermal management solutions for advanced computing and other high-performance applications.
“We believe ACT is well positioned for accelerated growth given the increasing importance of thermal management amid rising power intensity and AI innovation,” said Mark Zhu, Managing Director at Blackstone. “This includes the company’s pioneering work helping meet the next generation of data center and high-performance chip cooling requirements.”
