Blackstone Announces Minority Growth Investment in Salas O’Brien
January 22 2024 - 8:00AM
Business Wire
Blackstone (NYSE: BX) and Salas O’Brien (the “Company”), a
leading employee-owned engineering and technical services firm,
announced today a partnership where funds managed by Blackstone
have made a strategic minority growth investment to help accelerate
the Company’s continued expansion within the fast-growing
architectural, engineering, and construction (AEC) market. Salas
O’Brien will continue to be majority owned by its team members.
“Salas O’Brien is thrilled to partner with Blackstone as we
continue our journey of growth,” said Darin Anderson, Chairman and
CEO of Salas O’Brien. “As more companies and institutions pursue
their decarbonization, energy transition, and critical
infrastructure goals, Salas O’Brien’s expertise has never been more
needed in the world. Blackstone’s investment helps us gain greater
access to talent, enhances our technology resources, and helps us
better serve more clients. The fact that we can do all of this
while retaining our employee ownership approach and in partnership
with the incredible professionals at Blackstone is an amazing
validation of our team’s hard work—and positions us to get even
better.”
Shary Moalemzadeh, Senior Managing Director at Blackstone, and
Evan Middleton, Managing Director at Blackstone, said: “We are
excited to partner with the world-class team at Salas O’Brien as
they continue their growth by leveraging Blackstone’s global scale,
resources, and operational expertise to better serve the Company’s
customers. The current market environment has clearly demonstrated
the critical need for resilient, differentiated, high-quality AEC
solutions, and we look forward to helping accelerate the growth of
this exceptional leader in this sector.”
Terms of the transaction were not disclosed. Guggenheim
Securities served as exclusive financial advisor and Latham &
Watkins served as legal counsel to Salas O’Brien. Chartwell
Financial Advisory served as financial advisor and Kirkland &
Ellis LLP served as a legal advisor to Blackstone.
About Blackstone
Blackstone is the world’s largest alternative asset manager. We
seek to create positive economic impact and long-term value for our
investors. We do this by relying on extraordinary people and
flexible capital to help strengthen the companies we invest in. Our
over $1 trillion in assets under management include investment
vehicles focused on private equity, real estate, public debt and
equity, infrastructure, life sciences, growth equity,
opportunistic, non-investment grade credit, real assets and
secondary funds, all on a global basis. Further information is
available at www.blackstone.com. Follow @blackstone on LinkedIn,
Twitter, and Instagram.
About Salas O’Brien
Founded in 1975, Salas O’Brien is an employee-owned engineering
and technical services firm focused on advancing the human
experience through the built environment. Our team is engineered
for impact™, helping clients achieve critical goals, advancing our
team members through growth and opportunity, and operating at the
center of important global issues, including sustainability and
decarbonization. We are a top firm as ranked by Engineering
News-Record and Consulting-Specifying Engineer, and we have
appeared for the past eleven years on the Inc. 5000 list of North
America’s fastest-growing private companies.
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version on businesswire.com: https://www.businesswire.com/news/home/20240122122701/en/
Blackstone Matt Anderson (518) 248-7310
Matthew.Anderson@blackstone.com
Mariel Seidman-Gati (646) 482-3712
Mariel.SeidmanGati@blackstone.com
Salas O’Brien Eric Anest (949) 517-4935
eric.anest@salasobrien.com
Stacy Lake (206) 547-1940 stacy.lake@salasobrien.com
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