Blackstone Energy Transition Partners entered a definitive agreement to acquire Dresser Utility Solutions from First Reserve. Financial terms of the transaction were not disclosed.
Dresser Utility Solutions provides infrastructure equipment for natural gas and water utilities. Founded in 1880, the company specializes in metering technology, digital instrumentation, and flow control solutions. These products assist in modernizing aging utility systems.
The acquisition marks the first investment from the latest Blackstone Energy Transition Partners private equity vehicle. This strategy focuses on companies that enhance the reliability and safety of critical energy infrastructure.