Blackstone Energy Transition Partners has agreed to acquire a majority stake in Advanced Cooling Technologies (ACT), a U.S. manufacturer specializing in thermal management and energy efficiency technologies used in high-performance computing and industrial applications. The transaction, announced jointly by Blackstone and ACT, is expected to close in the second quarter of 2026 subject to customary regulatory and closing conditions.

ACT’s leadership team will remain in place following the investment and will continue to hold significant ownership in the company. The partnership is intended to support ACT’s expansion as demand grows for advanced cooling solutions in sectors such as data centers, artificial intelligence infrastructure and high-density computing.

Thermal Management Technologies for High-Performance Systems

Founded in 2003 and headquartered in Lancaster, Pennsylvania, Advanced Cooling Technologies designs and manufactures engineered thermal management systems used in mission-critical environments. The company’s technologies are widely used in advanced electronics, computing systems and industrial equipment where temperature control is essential for performance and reliability.

ACT’s product portfolio includes two-phase liquid cooling systems, heat pipes, phase change materials, cold plates, environmental control units and composite thermal and structural systems. These technologies help manage the heat generated by high-power electronics and computing hardware, which is becoming increasingly important as chip performance and power density continue to rise.

As computing infrastructure expands to support artificial intelligence workloads and high-performance data processing, thermal management solutions are becoming a critical component of data center design and semiconductor system performance.

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Investment Focus on Energy Efficiency and Power Management

Blackstone Energy Transition Partners focuses on investments linked to energy efficiency, electrification and infrastructure supporting the transition to a more sustainable energy system. The investment in ACT reflects growing demand for technologies that manage power consumption and thermal performance in energy-intensive digital infrastructure.

High-performance computing systems and modern data centers require increasingly sophisticated cooling technologies to maintain efficiency and prevent equipment overheating. Improved thermal management can also reduce overall energy consumption, which has become an important consideration as global data center capacity continues to expand.

Blackstone plans to support ACT’s continued technological development while helping the company scale its manufacturing capacity to meet rising customer demand.

Supporting Growth in Data Center and AI Infrastructure

The investment comes at a time when global demand for computing power is accelerating due to the expansion of artificial intelligence applications, cloud computing services and advanced semiconductor technologies. These developments are placing greater pressure on power systems and cooling infrastructure within data centers.

Advanced cooling systems, including liquid cooling technologies, are increasingly being adopted to manage heat loads in high-performance computing environments. Companies developing these technologies are seeing growing interest from data center operators and semiconductor manufacturers seeking to improve system efficiency and reliability.

By partnering with Blackstone, ACT is expected to expand its production capabilities and strengthen its position in the rapidly growing market for thermal management technologies.

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Transaction Advisory and Next Steps

Financial advisory services for the transaction were provided to ACT by Houlihan Lokey, while legal counsel was provided by Reed Smith. Blackstone was advised by UBS as financial advisor and Kirkland & Ellis as legal counsel.

Once completed, the transaction will mark a new phase of growth for Advanced Cooling Technologies as it seeks to expand its role in supporting next-generation computing infrastructure and energy-efficient thermal management systems.

Source: https://www.blackstone.com/news

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