Blackstone has agreed to become the majority owner of a newly merged MacLean Power Systems and Power Grid Components, creating one of North America’s largest suppliers of engineered equipment for the electrical grid. 

Under the transaction, Blackstone Energy Transition Partners and Blackstone’s flagship private equity strategy will acquire Centerbridge Partners’ ownership in MacLean Power Systems as part of a merger with Power Grid Components. The deal brings together two complementary manufacturers supplying critical hardware for transmission, distribution, substation, and communication networks across the United States.

MacLean Power Systems, founded in 1986, provides a broad portfolio of engineered components for grid construction, maintenance, and upgrades. Power Grid Components, created in 2017, owns a group of specialist businesses in high-voltage switchgear, insulators, transformers, hardware, controlled switching devices, and distribution products. Combined, the companies will offer one of the sector’s most comprehensive product ranges.

PGC CEO Mike Plaster added: “MacLean Power Systems is a premier brand in our industry, built on decades of providing reliable, high-quality, essential components for the power grid and adjacent industries.” He noted that both firms share a customer-focused culture and complementary product sets.

Blackstone executives said the investment aligns with their high-conviction themes in electrification, rising power demand, and long-term grid resilience. David Foley, global head of Blackstone Energy Transition Partners, said MPS and PGC are well positioned “to benefit from growing need for critical equipment that improves the safety, reliability, and efficiency of America’s electrical network.”

Centerbridge senior managing director Conor Tochilin said the firm’s investment reflects its focus on electric grid modernisation. The merger marks another step in Blackstone’s expansion across energy transition infrastructure, following recent deals in power equipment, grid services, and energy technology.

Terms of the transaction were not disclosed. The deal is expected to close following regulatory approvals.

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