Lancaster-based Advanced Cooling Technologies, Inc. (ACT) announced that Blackstone Energy Transition Partners has entered into an agreement to acquire a majority stake in the company.
ACT, a leading U.S. manufacturer of highly-engineered thermal management and energy efficiency solutions, designs and manufactures solutions for advanced computer, high power-density, and mission critical applications. Officials said the investment agreement will help maintain a high level of service, while “adding capacity and capabilities to enhance the value provided to ACT’s broad customer base.”
“We believe ACT is well positioned for accelerated growth given the increasing importance of thermal management amid rising power intensity and AI innovation,” Mark Zhu, managing director at Blackstone, said. “This includes the company’s pioneering work helping meet the next generation of data center and high-performance chip cooling requirements. We are excited to partner with Jon and the entire ACT management team to support the company’s continued technological leadership and expansion of their manufacturing capacity amidst record customer demand.”
Officials said ACT’s executive team will remain in place and continue as significant shareholders in the business. The company is known for its ability to provide premier engineering and responsiveness to their customers, as well as its innovative solutions such as two-phase liquid cooling, heat pipes, phase change materials, cold plates, environmental control units, and composite thermal and structural systems.
Founded in 2003, ACT officials said they expected the transaction to close in the second quarter of this year.
“Every one of us is excited about this new chapter of ACT,” Jon Zuo, CEO and co-founder of ACT, said. “With the support of our Blackstone partners, we will continue driving our core values of Innovation, Teamwork, and Customer Care, with the goal of building ACT into the world’s leading thermal management company.”