Two-phase liquid cooling is a thermal management method that uses a liquid which deliberately turns into vapor to carry heat away and then condenses back to liquid to repeat the cycle, like a controlled miniature boil-and-condense system. It removes heat far more efficiently than simple air or single-phase liquid cooling, so devices run faster, last longer and use less energy—factors that can lower operating costs and boost capacity, reliability and margins for businesses.
heat pipestechnical
A heat pipe is a sealed, hollow tube that quickly moves heat from one spot to another using the evaporation and condensation of a small internal fluid, like a fast-moving conveyor belt for thermal energy. Investors care because heat pipes improve product performance, reliability and compactness in electronics, batteries and cooling systems; better thermal management can lower manufacturing costs, reduce warranty risks, meet safety rules and enable higher-performing products that affect sales and margins.
phase change materialstechnical
Phase change materials are substances that absorb or release large amounts of heat when they change state, like ice melting into water or wax solidifying. Investors care because these materials can store and manage thermal energy for products and buildings, improving efficiency and cutting operating costs; commercially successful uses can affect energy, construction, electronics and manufacturing companies’ growth and margins.
environmental control unitstechnical
Environmental control units are machines or systems that regulate temperature, humidity, air cleanliness and pressure inside buildings or enclosed spaces, like a thermostat, dehumidifier and air filter working together. For investors, they matter because they are essential for regulatory compliance, product quality and equipment longevity in hospitals, labs, clean rooms and data centers, driving recurring sales, service contracts and capital spending by customers.
composite thermal and structural systemstechnical
Composite thermal and structural systems are engineered assemblies that combine materials to both carry mechanical loads and manage heat — like a multi-layer jacket that supports weight while keeping temperature under control. For investors, they matter because they can reduce weight, improve performance, extend product life and lower manufacturing or operating costs in industries such as aerospace, automotive and energy, influencing product competitiveness and long-term returns.
NEW YORK & LANCASTER, Pa.--(BUSINESS WIRE)--
Blackstone (NYSE: BX) and Advanced Cooling Technologies, Inc. (“ACT”) announced today that funds managed by Blackstone Energy Transition Partners (“Blackstone”) have entered into a definitive agreement to acquire a majority stake in ACT, a leading U.S. manufacturer of highly-engineered thermal management and energy efficiency solutions. ACT's executive team will remain in place and continue as significant shareholders in the business.
Founded in 2003 and headquartered in Pennsylvania, ACT designs and manufactures highly-engineered thermal management and energy efficiency solutions for advanced computing, high power density, and mission-critical applications. The company’s innovative solutions include two-phase liquid cooling, heat pipes, phase change materials, cold plates, environmental control units, and composite thermal and structural systems. ACT has thrived not only on their product and technology portfolio, but their unique ability to provide premier engineering and responsiveness to their customers. Blackstone’s investment is intended to help maintain this level of service, while adding capacity and capabilities to enhance the value provided to ACT’s broad customer base.
Mark Zhu, Managing Director at Blackstone, said: “We believe ACT is well positioned for accelerated growth given the increasing importance of thermal management amid rising power intensity and AI innovation. 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.”
David Foley, Global Head of Blackstone Energy Transition Partners, added: “Our investment strategy focuses on identifying businesses we believe are well positioned to benefit from long-term power demand growth and the need to manage power and energy more efficiently. We have a long track record of partnering with founder-led companies, and we look forward to supporting Jon and the ACT team with capital and other resources as they continue to build on the company’s strong foundation in a rapidly growing market."
Jon Zuo, CEO and Co-Founder of ACT, said: “Every one of us is excited about this new chapter of ACT. 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.”
The transaction is expected to close in second quarter, subject to customary conditions.
Houlihan Lokey served as exclusive financial advisor and Reed Smith served as legal counsel to ACT. Kirkland & Ellis served as legal advisor and UBS served as financial advisor to Blackstone.
About ACT
Advanced Cooling Technologies, Inc. is a premier thermal management solutions company, providing design and manufacturing services to meet our customers’ needs across all points of the product lifecycle. We serve our global customers’ thermal management and energy recovery needs in diverse markets including Data Centers, Space, Defense, Energy, Electronics, HVAC, and Enclosure Cooling. We specialize in providing innovative and performance-optimized thermal management technologies and solutions that meet the unique needs of each customer.
About Blackstone Energy Transition Partners
Blackstone Energy Transition Partners is Blackstone’s strategy for control-oriented equity investments in energy-related businesses, with a successful long-term record, having committed over $27 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering more reliable, affordable and cleaner energy to meet the growing needs of the global community. In the process, we work to build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders. Further information is available at https://www.blackstone.com/our-businesses/blackstone-energy-transition-partners/.
About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
