Blackstone Energy Transition Partners has acquired a majority stake in Advanced Cooling Technologies, a Pennsylvania-based manufacturer of thermal management and energy efficiency products. The deal, expected to close in Q2, marks Blackstone's third acquisition of a founder- or family-owned company in twelve months. Advanced Cooling Technologies employs 350 people at its one-million-square-foot facility in Lancaster.

Founded in 2003, ACT designs and manufactures thermal energy management products for data centers, defense, and renewable power applications. The company's products efficiently cool electronics in power-dense applications without additional power consumption. Blackstone plans to help ACT expand production capacity within its Pennsylvania facility and potentially pursue geographic expansions in the coming years.

In another major move, Blackstone and Blue Owl have made a strategic minority investment in Atlas Holdings, a Connecticut-based industrial conglomerate that owns 30 manufacturing and distribution businesses. Meanwhile, Entrepreneurial Equity Partners recently sold Furlani Foods, a Canadian garlic bread maker, to Arbor Investments after less than three years, following rapid operational growth and the January acquisition of Cole's Quality Foods. These deals highlight continued private equity activity across industrial, energy, and food sectors.