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Events / Blackstone Acquires Majority Stake...
Business majority acquisition

Blackstone Acquires Majority Stake in Advanced Cooling Technologies

Analysis based on 8 articles · First reported Mar 11, 2026 · Last updated Mar 11, 2026

Sentiment
60
Attention
4
Articles
8
Market Impact
Direct
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Market Impact

The acquisition of Advanced Cooling Technologies, Inc. by Blackstone is expected to positively impact the thermal management and data center industries, as it will enable Advanced Cooling Technologies, Inc. to expand its capacity and technological leadership. This move reflects a broader market trend of increasing investment in energy efficiency and advanced cooling solutions driven by AI innovation and rising power intensity.

Thermal Management Private Equity Data Centers
Event Summary

Blackstone, through its Blackstone===Blackstone Energy Transition Partners, has entered into a definitive agreement to acquire a majority stake in Advanced Cooling Technologies, Inc., a U.S. manufacturer of highly-engineered thermal management and energy efficiency solutions. Advanced Cooling Technologies, Inc., founded in 2003 and headquartered in Pennsylvania, specializes in two-phase liquid cooling, heat pipes, and other thermal management systems for advanced computing and mission-critical applications. The investment aims to support Advanced Cooling Technologies, Inc.'s accelerated growth, enhance its manufacturing capacity, and maintain its technological leadership amidst increasing demand driven by AI innovation and rising power intensity. Advanced Cooling Technologies, Inc.'s executive team, including CEO Jon Zuo, will remain in place and continue as significant shareholders. The transaction is expected to close in the second quarter, subject to customary conditions. Houlihan Lokey and Reed Smith advised Advanced Cooling Technologies, Inc., while Kirkland & Ellis and UBS advised Blackstone.

Key Actions
100 Blackstone===Blackstone Energy Transition Partners entered into a definitive agreement to acquire a majority stake Advanced Cooling Technologies
100 Advanced Cooling Technologies was acquired by Blackstone===Blackstone Energy Transition Partners
10 Houlihan Lokey served as exclusive financial advisor Advanced Cooling Technologies
10 Reed Smith served as legal counsel Advanced Cooling Technologies
10 Kirkland & Ellis served as legal advisor Blackstone
10 UBS served as financial advisor Blackstone
Entities Involved
stock
Blackstone
Blackstone, through its Blackstone===Blackstone Energy Transition Partners, is acquiring a majority stake in Advanced Cooling Technologies, Inc., which is expected to accelerate Advanced Cooling Technologies, Inc.'s growth in thermal management solutions. This acquisition aligns with Blackstone's strategy of investing in businesses benefiting from long-term power demand growth and energy efficiency.
Importance 100 Sentiment 70
priv
Advanced Cooling Technologies
Advanced Cooling Technologies, Inc. is being acquired by Blackstone, which will provide capital and resources to expand its manufacturing capacity and technological leadership in thermal management solutions. The company's executive team will remain in place and continue as significant shareholders.
Importance 100 Sentiment 80
subs
Blackstone===Blackstone Energy Transition Partners
Blackstone===Blackstone Energy Transition Partners is the specific fund managed by Blackstone that is executing the acquisition of Advanced Cooling Technologies, Inc. This investment aligns with its strategy of control-oriented equity investments in energy-related businesses.
Importance 90 Sentiment 70
per
Jon Zuo
Jon Zuo, CEO and Co-Founder of Advanced Cooling Technologies, Inc., expressed excitement about the new chapter for the company with Blackstone's support, aiming to build Advanced Cooling Technologies, Inc. into a world-leading thermal management company. He will remain with the company as a significant shareholder.
Importance 60 Sentiment 70
per
Mark Zhu
Mark Zhu, Managing Director at Blackstone, believes Advanced Cooling Technologies, Inc. is well-positioned for accelerated growth due to the increasing importance of thermal management in AI innovation and rising power intensity.
Importance 40 Sentiment 60
per
David Foley
David Foley, Global Head of Blackstone===Blackstone Energy Transition Partners, highlighted that the investment strategy focuses on businesses benefiting from long-term power demand growth and efficient energy management, aligning with the acquisition of Advanced Cooling Technologies, Inc.
Importance 40 Sentiment 60
stock
Houlihan Lokey
Houlihan Lokey served as the exclusive financial advisor to Advanced Cooling Technologies, Inc. for this transaction.
Importance 10 Sentiment 0
+ 3 more entities View on Dashboard
Relationships
Blackstone===Blackstone Energy Transition Partners related ↔ Blackstone
Jon Zuo related ↔ Advanced Cooling Technologies
Mark Zhu related ↔ Blackstone
David Foley related ↔ Blackstone===Blackstone Energy Transition Partners
Blackstone related ↔ Advanced Cooling Technologies
Advanced Cooling Technologies related ↔ Blackstone===Blackstone Energy Transition Partners
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