Hitachi Energy has entered a strategic partnership with Blackstone Energy Transition Partners to strengthen its service business across North America.
As part of the agreement, Hitachi Energy will acquire a stake in Shermco, a leading provider of maintenance, testing, and design services for power infrastructure in the US and Canada, recently acquired by Blackstone-affiliated funds.
The collaboration brings together Hitachi Energy, Blackstone, and Shermco to expand service capacity across the power value chain – from generation and transmission to data centres and industrial electrification.
Hitachi Energy chief executive Andreas Schierenbeck said: “Investing in Shermco in partnership with Blackstone enables Hitachi Energy to accelerate our growth and expand service capabilities across North America.”
Shermco chief executive Phil Petrocelli said the partnership would strengthen the company’s ability to meet customer needs and “expand our footprint and capabilities to continue to accelerate our growth together.”
David Foley, global head of Blackstone Energy Transition Partners, added: “We are excited to partner with Hitachi Energy to build on Shermco’s success in an era of rapid electrification and increasing demand.”
In addition, Hitachi Energy is launching a $1bn global service investment programme, which includes launching new digital service solutions, such as HMAX Energy, and adding 5,000 certified service experts worldwide.
Wolf Mueller, managing director of Hitachi Energy’s service business, said: “By combining Hitachi Energy’s grid expertise and digital solutions with Shermco’s nationwide field service presence, we will set a new benchmark for electrical infrastructure services.”
The company said expanding service capacity is vital as aging grids, a retiring workforce, and rising electrification create increasing pressure on energy infrastructure reliability, safety, and resilience.