financetom
Business
financetom
/
Business
/
Hitachi Energy buys stake in US-based Shermco to boost grid services
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Hitachi Energy buys stake in US-based Shermco to boost grid services
Oct 29, 2025 7:41 AM

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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Reddit Insider Sold Shares Worth $1,415,510, According to a Recent SEC Filing
Reddit Insider Sold Shares Worth $1,415,510, According to a Recent SEC Filing
Aug 25, 2025
03:59 AM EDT, 08/25/2025 (MT Newswires) -- Benjamin Seong Lee, Chief Legal Officer, on August 20, 2025, sold 6,426 shares in Reddit ( RDDT ) for $1,415,510. Following the Form 4 filing with the SEC, Lee has control over a total of 83,445 Class A common shares of the company, with 83,445 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1713445/000171344525000209/xslF345X05/wk-form4_1755905554.xml ...
Argenx's Phase 3 Study of Potential Neuromuscular Autoimmune Disease Treatment Meets Primary Endpoint
Argenx's Phase 3 Study of Potential Neuromuscular Autoimmune Disease Treatment Meets Primary Endpoint
Aug 25, 2025
04:23 AM EDT, 08/25/2025 (MT Newswires) -- Argenx (ARGX) said Monday that a phase 3 study of its drug Vyvgart met its primary endpoint in treating patients with AChR-Ab seronegative generalized myasthenia gravis, an autoimmune disease. The company said patients treated with Vyvgart in the study generally showed statistically significant and clinically meaningful improvement over those given a placebo. Argenx...
Biogen, Eisai Launch Alzheimer's Disease Treatment in Austria; Germany to Follow
Biogen, Eisai Launch Alzheimer's Disease Treatment in Austria; Germany to Follow
Aug 25, 2025
04:23 AM EDT, 08/25/2025 (MT Newswires) -- Biogen (BIIB) and partner Eisai said Monday they have launched Leqembi in Austria, with Germany launch scheduled for Sept 1. The European Commission approved the drug in April as the first therapy that targets an underlying cause of Alzheimer's disease. It is indicated for the treatment of adult patients with a clinical diagnosis...
US probes into more than 1.4 million Honda vehicles over engine failure
US probes into more than 1.4 million Honda vehicles over engine failure
Aug 25, 2025
(Reuters) -The National Highway Traffic Safety Administration is opening a probe into more than 1.4 million Honda ( HMC ) vehicles sold in the United States over concerns that connecting rod bearing failures in their engines could lead to complete engine failure. In a letter dated August 20, the regulator said it received 414 reports of the issue in various...
Copyright 2023-2026 - www.financetom.com All Rights Reserved