In a move underscoring Wall Street’s deepening wager on climate-resilient infrastructure, TPG Acquires Stake in Sabre Industries, taking a majority position in the critical infrastructure provider from Blackstone Energy Transition Partners, the companies announced Friday.

The transaction, guided by legal teams from Latham & Watkins LLP, Kirkland & Ellis LLP and Vinson & Elkins LLP, is expected to close in the second quarter of 2026.

Climate Capital Meets Grid Demands

TPG is making the investment through its TPG Rise Climate platform, a strategy focused on businesses positioned at the intersection of energy transition and long-term sustainability.

Blackstone, which first invested in Sabre through its managed funds in 2021, will retain a minority stake after the deal closes, maintaining a foothold in the company’s future growth.

Sabre Industries, which employs approximately 2,800 people, supplies infrastructure critical to data centers and telecommunications companies — sectors increasingly central to a digitized economy. According to a Reuters report published Friday, Sabre carries an estimated valuation of $3.5 billion.

Positioned for Surging Power Needs

Executives from TPG, Blackstone and Sabre issued statements praising the transaction. TPG partner Steven Mandel characterized the deal as “a significant opportunity.”

“We believe there is a significant opportunity for leading equipment providers to meet rising electricity demand and modernize a grid increasingly vulnerable to extreme weather events,” Mandel said. “Sabre's leadership in transmission and distribution, combined with its specialized enclosures for the data center market, positions the company at the heart of these essential trends.”

As extreme weather intensifies and electricity demand climbs — fueled by artificial intelligence, cloud computing and electrification — infrastructure providers like Sabre sit at a pivotal junction.

TPG declined to provide additional comment Friday. Blackstone and Sabre did not respond to requests for further remarks.

Legal Teams Behind the Deal

TPG is represented by a Latham & Watkins LLP team including Kristen Grannis, James Garrett, John Miller, Jameson Miller, Kevin Donovan, David Lee, Talia Wyschogrod, Jennifer Boyd, Harrison Little, Alec Born, James Langlois, Katharine Moir, Greg Conyers, Ben Rosemergy, Victoria Wolfe, Alyssa Dantoin, Sandy Benjamin, Sahar Merchant, Elizabeth Gemdjian, Debbie Hinck, Susana Santos, Victoria Allen, Scott Joiner, C.J. Rydberg, Julia Hatcher, Josh Marnitz, Anna Dykema, Phil Goldberg, Harrison White, Amara Banks, Enrique Covarrubias, Shira Bressler and Brandon Hemans, along with Scott Rolnik, Lauren Nickoloff, Shelby Lindholm, Emily Barber, Michael Urschel, Brandon Karas and Jared Rusman of Kirkland & Ellis LLP.

Blackstone is represented by Benji Barron, Jordan M. Fossee, Zac Horne, Rylie Goldwait, Chet Wynne, Domonique Richardson, Jason McIntosh, Brian Russell, Patrick Darby, David Wicklund, Megan Hardy, Dane Rogerson, Hill Wellford, Kara Kuritz, Ryan Will, Matt Dobbins, Kelly Rondinelli, Becky Baker, Peter Goetschel, Shane Tucker, Kenneth Strain, Madeline O'Neill, Sarah Mitchell, Victoria Bahrami-Negad, Jamie Leader, Courtney Hammond, Rajesh Patel, Haley Titcomb, Fry Wernick, Brian Howard, Joyce Adetutu, Randall Johnston, Frankie Vélez and Claire Connor of Vinson & Elkins LLP.

With TPG Acquires Stake in Sabre Industries, the deal highlights how private capital is racing to fortify the backbone of modern economies — from power grids to data highways — as climate pressures and digital expansion reshape the landscape.