Blackstone is close to acquiring MacLean Power Systems in a transaction that would value the US utility-parts manufacturer at more than $4bn, according to people familiar with the matter cited by Bloomberg.

The private equity firm is expected to announce the deal as soon as next week after outbidding several competitors. ABB considered increasing its offer but ultimately stepped back, the sources said. Discussions remain advanced but could still face delays.

MacLean, based in Fort Mill, South Carolina, produces anchoring systems, grounding equipment, and a range of components used across electric-power transmission and distribution networks. Centerbridge Partners acquired a majority stake in the company in 2022.

A potential takeover would mark Blackstone’s latest move into energy-infrastructure and power-grid assets. Surging electricity demand in the US, driven by rapid data-centre construction to support artificial intelligence and the wider electrification of industry, has intensified investor interest in grid-related businesses.

Blackstone has made several sizeable acquisitions in the sector in recent years. Its infrastructure arm agreed to acquire TXNM Energy for about $5.7bn earlier this year. The firm bought Power Grid Components in 2023 and acquired Sabre Industries, a manufacturer of utility structures, in 2021.

Representatives for Blackstone, Centerbridge, and ABB declined to comment. MacLean did not respond to requests for comment.

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