Blackstone to Acquire Sediver’s Owner in €600 Million Deal (1)

Blackstone Inc.is acquiring France’s Seves Group, the parent of glass insulator manufacturer Sediver, as it seeks to grow its business investing in energy transition.

The US buyout firm agreed to acquire Seves from Triton Partners, according to a statement on Thursday, confirming an earlier Bloomberg News report. It didn’t disclose any financial terms.

The deal values Seves at an enterprise value of more than €600 million ($653 million), people familiar with the matter said. It marks the first investment from Blackstone’s most recent vintage of its private equity energy transition vehicle, said the people, who asked ...