William Blair acted as financial advisor to Blackstone (NYSE: BX) in connection with its pending acquisition of Flow Control Holdings (FCH) from Audax Private Equity. The transaction was announced on September 10, 2026, and is expected to close in the fourth quarter of 2026.
About the Companies
Blackstone is the world’s largest alternative asset manager. The company seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $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.
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 approximately $30 billion of equity globally across a broad range of sectors across the energy transition landscape. The company’s 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 needs of the global community. In the process, Blackstone Energy Transition Partners build stronger, larger scale enterprises, create jobs and generate lasting value for their investors, employees and all stakeholders.
FCH specializes in providing highly engineered sanitary and high-purity flow components for critical applications within the data center, food, beverage, and pharmaceutical industries.
Based in Boston, with offices in San Francisco, New York, London and Hong Kong, Audax Private Equity is a leading private equity platform focused on investing across the North American middle market. The company’s objective is to accelerate value creation through their Buy & Build strategy and the Audax Value Agenda™, a holistic framework that seeks to enable, create, and protect value across every stage of the investment lifecycle. As of July 2026, Audax Private Equity had approximately $20 billion of assets under management and, since inception in 1999, has invested in more than 180 platforms and more than 1,500 add-on acquisitions.
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