LONDON, Oct 29 (Reuters) - Hitachi Energy has acquired a
minority stake in Shermco, a U.S. electrical services company
recently bought by Blackstone, Hitachi Energy told
Reuters on Wednesday, in a deal aimed at creating the largest
grid services provider in North America.
The deal follows U.S. President Donald Trump's visit to
Japan on Tuesday during which the two countries agreed to a deal
on new-generation nuclear power reactors and rare earths.
Growing global investments in artificial intelligence and
modern data centres have fuelled demand for electricity,
maintenance and repair services.
Switzerland-headquartered Hitachi Energy, a subsidiary of
Japan's Hitachi Ltd ( HTHIF ), declined to give the size of the
stake or value of the Shermco deal.
Blackstone acquired Irving, Texas-based Shermco in August
for about $1.6 billion. Shermco provides comprehensive
electrical system services, as well as critical services for
data centres, utilities and other diversified commercial and
industrial end-markets.
Blackstone said the partnership with Hitachi Energy would
help scale Shermco's operations to meet growing demand for grid
modernisation and electrification.
In September, Hitachi Energy said it planned to invest $1
billion to expand its U.S. power grid infrastructure
manufacturing.