WASHINGTON (dpa-AFX) - Blackstone Inc. (BX), an alternative asset management firm, announced on Thursday that its private equity funds have agreed to acquire Flow Control Holdings, a U.S. provider of liquid cooling components for data centers, food, beverage and pharmaceutical markets, from Audax Private Equity. Financial Terms of the deal were not disclosed.
Audax will retain a minority stake and continue to partner with Blackstone and management.
Flow Control Holdings supplies components used by OEMs and hyperscalers for coolant distribution units, in-row manifolds and secondary fluid networks. Liquid cooling is more energy efficient than air cooling, helping data centers cut emissions and improve power usage.
Closing of the deal is expected in the fourth quarter.
Houlihan Lokey and Jefferies advised FCH, while William Blair, UBS and Goldman Sachs advised Blackstone.
On the NYSE, shares of Blackstone are currently losing 2.06 percent, changing hands at $126.41.
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