Blackstone has acquired a majority stake in Advanced Cooling Technologies (ACT), which designs and manufactures highly-engineered thermal management and energy efficiency solutions for advanced computing, high power density, and mission-critical applications.
Founded in 2003, Blackstone said ACT's executive team will remain in place and continue as significant shareholders in the business.
The company’s innovative solutions include two-phase liquid cooling, heat pipes, phase change materials, cold plates, environmental control units, and composite thermal and structural systems.
Blackstone managing director, Mark Zhu, said ACT is well positioned for accelerated growth given the increasing importance of thermal management amid rising power intensity and AI innovation.
Zhu said Blackstone will support the company’s continued technological leadership and expansion of their manufacturing capacity amidst record customer demand.
ACT co-founder & CEO, Jon Zuo, welcomed the announcement describing it as a new chapter for ACT.
Global head of Blackstone Energy Transition Partners, David Foley, said the company will support ACT with capital and other resources as they continue to build on their strong foundation in a rapidly growing market.
The transaction is expected to close in second quarter.