{"id":31113,"date":"2026-07-06T19:00:00","date_gmt":"2026-07-06T17:00:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=39771d07e3eded662060cfed67378f99"},"modified":"2026-07-06T19:00:00","modified_gmt":"2026-07-06T17:00:00","slug":"blackstone-energy-transition-partners-announces-agreement-to-acquire-dresser-utility-solutions-from-first-reserve","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=31113","title":{"rendered":"Blackstone Energy Transition Partners Announces Agreement to Acquire Dresser Utility Solutions from First Reserve"},"content":{"rendered":"

NEW YORK & HOUSTON--(BUSINESS WIRE)--Blackstone (NYSE: BX) today announced that funds managed by Blackstone Energy Transition Partners (\u201cBlackstone\u201d) have entered into a definitive agreement to acquire Dresser Utility Solutions (\u201cDresser\u201d), a premier provider of mission-critical natural gas and water measurement, control and infrastructure equipment solutions, from First Reserve. This represents the first investment of the most recent vintage of Blackstone\u2019s private equity energy transition vehicle.<\/p><\/a><\/a>

\nFounded in 1880 and headquartered in Houston, Texas, Dresser provides metering technology, digital instrumentation and software, pressure and flow control solutions, and infrastructure repair products for gas and water utilities and industrial customers. With approximately 850 employees across its global manufacturing footprint, the company helps customers modernize aging utility infrastructure and improve asset reliability.<\/p>

\nDavid Foley, Global Head of Blackstone Energy Transition Partners, and JP Munfa, Senior Managing Director, said: \u201cAs demands on the energy grid continue to grow, Dresser plays a critical role as a trusted partner to utilities managing essential infrastructure. The company\u2019s products are foundational to the safe and reliable operation of gas and water networks, and its reputation for quality has helped build longstanding customer relationships. We look forward to leveraging Blackstone\u2019s scale and resources to help Dresser continue to serve its customers, innovate and grow.\u201d<\/p>

\nDavid Evans, CEO of Dresser Utility Solutions, said: \u201cThis transaction marks an exciting milestone for Dresser and reflects the exceptional work of our entire team. Blackstone\u2019s deep resources and experience in the utility sector make them an ideal partner as we continue to invest in innovation, expand our product portfolio, and deliver value for our customers. We are energized by what lies ahead and are grateful to First Reserve for their invaluable partnership in helping build Dresser into the company it is today.\u201d<\/p>

\nJeff Quake, Managing Partner at First Reserve, said \u201cWe\u2019re grateful to have partnered with the Dresser team to build a leading infrastructure technology platform helping utilities optimize assets and manage the digital transformation process. Dresser is well-positioned to continue the execution of its growth strategy and we wish David Evans and the entire team well as they look to build on the company\u2019s momentum in this exciting new chapter.\u201d<\/p>

\nTerms of the transaction were not disclosed. The transaction is subject to customary closing conditions. D.A. Davidson & Co. and Jefferies acted as financial advisors and Kirkland & Ellis acted as legal advisor to Blackstone. Harris Williams served as financial advisor and Simpson Thacher & Bartlett served as a legal advisor to Dresser.<\/p>

\nAbout Dresser Utility Solutions<\/b><\/p>

\nWith more than a century of innovation, Dresser Utility Solutions is a trusted leader in providing safe, reliable infrastructure technologies that support utilities around the world. The company continues to strengthen and modernize utility infrastructure, ensuring customers receive high-performing technologies that operate safely, reduce emissions and product loss, and minimize operational costs. Dresser's portfolio includes gas metering technology, digital instrumentation and software, pressure and flow control solutions, and gas and water infrastructure repair products. Together, these solutions support the complete utility infrastructure lifecycle - from measurement and control to repair and maintenance. For more information, visit www.dresserutility.com<\/a>.<\/p>

\nBlackstone Energy Transition Partners<\/b><\/p>

\nBlackstone Energy Transition Partners is Blackstone\u2019s strategy for control-oriented equity investments in energy-related businesses, with a successful long-term record, having invested over $28 billion of equity globally across a broad range of sectors across the energy transition landscape. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering more reliable, affordable and cleaner energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders. Further information is available at https:\/\/www.blackstone.com\/our-businesses\/blackstone-energy-transition-partners\/<\/a>.<\/p>

\nAbout Blackstone<\/b><\/p>

\nBlackstone is the world\u2019s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone\u2019s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com<\/a>. Follow @blackstone on LinkedIn<\/a>, X (Twitter)<\/a>, and Instagram<\/a>.<\/p>

\nAbout First Reserve<\/b><\/p>

\nFirst Reserve is a leading private equity firm investing across Infrastructure Solutions, Value-Added Infrastructure and Resources strategies with exposure in energy, utility, and industrial markets. Founded in 1983, First Reserve has more than 40 years of industry insight and has cultivated a differentiated network of relationships and portfolio exposure. Since inception, First Reserve has raised over $35 billion of aggregate capital and has developed operational expertise built from over 750 transactions, including platform investments and add-on acquisitions. Please visit www.firstreserve.com<\/a> for further information.<\/p> Contacts<\/b>

\nMedia Contacts<\/b><\/p>

\nB<\/b>lackstone<\/b><\/p>

\nJennifer Heath\nJennifer.Heath@Blackstone.com<\/a><\/p>

\nFirst Reserve<\/b><\/p>

\nErik Carlson \/ Madeline Jones\nJoele Frank, Wilkinson Brimmer Katcher\n212.355.4449\nFirstReserve-JF@joelefrank.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

NEW YORK & HOUSTON–(BUSINESS WIRE)–Blackstone (NYSE: BX) today announced that funds managed by Blackstone Energy Transition Partners (\u201cBlackstone\u201d) have entered into a definitive agreement to acquire Dresser Utility Solutions (\u201cDresser\u201d), a premier p…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-31113","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/31113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31113"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/31113\/revisions"}],"predecessor-version":[{"id":31116,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/31113\/revisions\/31116"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}