Funds managed by Blackstone Energy Transition Partners have agreed to acquire Dresser Utility Solutions, a premier provider of mission-critical natural gas and water measurement, control and infrastructure equipment solutions, from First Reserve.
Founded in 1880 and headquartered in Houston, Dresser provides metering technology, digital instrumentation and software, pressure and flow control solutions, and infrastructure repair products for gas and water utilities and industrial customers. The company helps customers modernize aging utility infrastructure and improve asset reliability.
Although financial terms of the transaction were not disclosed, Blackstone said this represents the first investment of the firm’s most recent vintage of its private equity energy-transition vehicle.
“As demands on the energy grid continue to grow, Dresser plays a critical role as a trusted partner to utilities managing essential infrastructure,” said David Foley, global hea
