Blackstone Acquires Majority Stake in Westwood Services

Alternative investment manager Blackstone’s energy-focused private equity business, Blackstone Energy Transition Partners, announced the acquisition of a majority stake in renewables and power infrastructure-focused engineering and consulting firm Westwood Professional Services. Founded in 1972, Westwood is a professional engineering firm specializing in areas including wind energy, solar energy, energy storage, power delivery, EV infrastructure, commercial, institutional, residential, and public infrastructure projects. The company provides front-end engineering design services supporting the development of renewable energy generation, investment in the power grid and the buildout of public and private infrastructure across the U.S., with a team of more than 1,600 employees. The transaction marks the latest in a series of energy transition focused investments for Blackstone, including recent acquisitions of power solutions provider Trystar in July, and of electrical insulator solutions company Sediver Group in June. Blackstone has stated that it sees an opportunity to invest an estimated $100 billion in energy transition and climate change solutions projects over the next decade. Blackstone will acquire its position in Westwood from Endurance Partners, which will retain Westwood's management team and employee shareholders in the minority. Terms of the deal have not yet been announced.