Blackstone / Dresser Utility SolutionsWA-30031

Parties

Summary

Endeavor Purchaser V, Inc., an affiliate of Blackstone Inc., has acquired 100% of the equity interests in Dresser Utility Solutions, LLC from NGS Cayman Holdings, L.P. Dresser Utility Solutions manufactures and supplies equipment for gas and water utility networks, including gas meters and regulators in Australia. This was an equity purchase agreement.

Acquisition details

Endeavor Purchaser V, Inc. ( Endeavor Purchaser ) (an affiliate of various funds advised and/or managed by affiliates of Blackstone Inc. ( Blackstone )) has entered into an Equity Purchase Agreement to acquire 100% of the equity interests of Dresser Utility Solutions, LLC ( Dresser ) held by NGS Cayman Holdings, L.P. (the Acquisition ). Blackstone is a US-based corporation, incorporated under the laws of Delaware, United States. Blackstone operates as an investment management firm. Accordingly, each company in its investment portfolio is independently managed and financed and each has different investors (although the investors in different investment funds may overlap). Each Blackstone portfolio company has its own board of directors, which generally also include Blackstone representatives. Dresser is a US-based company that manufactures and supplies equipment used globally to build, operate and repair gas and water utility networks. In Australia, Dresser supplies gas meters, gas regulators and couplings & clamp products, both directly and through third-party distributors.