Blackstone to acquire Therma Holdings from Gemspring Capital

Private equity funds managed by Blackstone Energy Partners entered into a definitive agreement to acquire Therma Holdings LLC, a mechanical/energy-efficiency services platform and portfolio company of Gemspring Capital. The deal was expected to close in Q4 2020, subject to regulatory approval.

“NEW YORK and SAN JOSE, Calif. — Blackstone announced that private equity funds managed by Blackstone Energy Partners have entered into a definitive agreement to acquire Therma Holdings LLC, a portfolio company of Gemspring Capital.”

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