Salas O’Brien, an Irvine-based engineering firm that is one of Orange County’s fastest-growing private companies, announced it has received a minority investment from Blackstone, the world’s largest alternative asset manager (NYSE: BX).
“As more companies and institutions pursue their decarbonization, energy transition, and critical infrastructure goals, Salas O’Brien’s expertise has never been more needed in the world,” Salas O’Brien Chairman and Chief Executive Darin Anderson said in a statement. “Blackstone’s investment helps us gain greater access to talent, enhances our technology resources, and helps us better serve more clients. The fact that we can do all of this while retaining our employee ownership approach and in partnership with the incredible professionals at Blackstone is an amazing validation of our team’s hard work.”
Salas O’Brien, which has made several recent acquisitions, last year topped the Business Journal’s annual list of the fastest-growing private companies, reporting sales climbed 179% during a two-year period that ended June 30, when it recorded $487 million for the year.
Terms of the transaction were undisclosed. Guggenheim Securities served as exclusive financial advisor and Latham & Watkins served as legal counsel to Salas O’Brien. Chartwell Financial Advisory served as financial adviser and Kirkland & Ellis LLP served as a legal adviser to Blackstone.