Blackstone Inc. announced on December 10, 2025 that it had completed a merger and recapitalization of MacLean Power Systems (MPS) and Power Grid Components (PGC). The transaction, executed under a definitive agreement signed that day, makes Blackstone Energy Transition Partners and Blackstone’s flagship private‑equity strategy the majority owners of the newly combined entity.
The merger brings together two leading manufacturers of engineered components for electrical transmission, distribution, substation, and communication infrastructure. MPS supplies switches, pole‑line hardware, insulators, arresters, connectors, anchors, and crossarms, while PGC provides high‑voltage disconnect switchgear, insulators, instrument transformers, outside‑plant hardware, controlled‑switching devices, pad‑mounted power‑distribution products, and fixed‑load transformers. Together, the companies will serve utilities, telecom operators, and other infrastructure customers across North America, positioning the combined firm as a top supplier in a market driven by electrification, grid hardening, and aging infrastructure.
Blackstone’s involvement underscores its broader strategy to invest in the U.S. power grid and energy transition. By consolidating MPS and PGC, Blackstone aims to create a platform that can deliver integrated solutions, improve lead times, and capture growth in the utility‑equipment sector. The transaction reflects Blackstone’s ongoing focus on infrastructure and energy‑related assets, complementing its existing private‑credit, real‑estate, and data‑center investments.
CEO Steve Scharnhorst of MPS said the merger would accelerate growth and strengthen the company’s market position, while PGC CEO Mike Plaster highlighted the complementary product sets and customer‑focused culture of both firms. Blackstone’s Global Head of Energy Transition Partners, David Foley, noted that the combined entity is well‑positioned to benefit from the growing need for critical equipment that improves the safety, reliability, and efficiency of America’s electrical network.
The deal aligns with macro trends such as the rapid expansion of renewable energy, the electrification of transportation, and federal initiatives to modernize the grid. Analysts view the merger as a strategic move that will give Blackstone a foothold in a $17.1 billion substation market that is projected to grow, while also providing a platform for future investments in grid‑hardening technologies.
The transaction is expected to generate synergies through shared manufacturing, R&D, and sales channels, potentially reducing costs and accelerating time‑to‑market for new products. Blackstone’s focus on operational efficiency and its experience in scaling infrastructure businesses suggest that the combined entity could achieve higher margins and stronger cash flow generation than the individual companies could alone.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.