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Blackstone Inc. (NYSE:BX) shares are trading higher on Tuesday.
The company disclosed that private equity funds affiliated with Blackstone entered into a definitive agreement to acquire Trystar, a premier provider of electrical equipment used for backup power solutions.
According to Benzinga Pro, BX stock has gained over 30% in the past year.
In another development, Blackstone and CVC Capital Partners Plc are among the private equity firms considering bids for StandardAero, potentially valuing the aircraft maintenance services provider at over $10 billion, including debt, reported Bloomberg.
Veritas Capital has shown preliminary interest in acquiring the Carlyle-backed business, the report read, citing people familiar with the matter.
Carlyle is anticipated to request first-round bids this week, with potential for additional bidders to emerge. Collaborative bids from multiple firms are also possible.
Carlyle is working with JP Morgan Chase & Co. (NYSE:JPM) and Morgan Stanley (NYSE:MS) to explore options, including a potential sale or initial public offering of StandardAero.
Discussions are ongoing, and it remains uncertain whether any of the private equity firms will ultimately proceed with a deal for StandardAero.
StandardAero, headquartered in Scottsdale, Arizona, specializes in gas turbine engine maintenance, repair, and overhaul services. With approximately 7,500 employees, it serves major clients, including GE Aerospace (NYSE:GE), Safran SA, and Pratt & Whitney. Recently, it secured a long-term contract to maintain CFM International’s LEAP-1A and LEAP-1B engines.
Carlyle completed its acquisition of StandardAero from Veritas in 2019.
Investors can gain exposure to the stock via EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO)
and Invesco Global Listed Private Equity ETF (NYSE:PSP).
Price Action: BX shares are trading higher by 2.53% to $135.71 at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
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