The deal was signed with funds managed by Blackstone Energy Transition Partners. Credit: Adobe Stock

Blackstone (NYSE: BX) has agreed to buy DarkVision Technologies, an ultrasound imaging solution for industrial infrastructure, from Koch Engineered Solutions (KES).

DarkVision uses ultrasound to measure sound waves inside solid industrial materials. The collected data reveal the size, shape and severity of defects, which are reconstructed into 3D models. The Vancouver-based company develops all parts of the imaging technology, including sensors, silicon and AI models. Darkvision currently employs about 300 people.

“We’re still at the early stages of our journey and are excited about the opportunities ahead as we keep building more advanced generations of ultrasound technology,” said Stephen Robinson, the CEO and founder of DarkVision.

Dave Dotson, the president of KES, added that he is “grateful to the entire DarkVision team for their vision and partnership and are confident the company is well positioned for continued growth under Blackstone's ownership.” 

The deal was signed on behalf of funds managed by Blackstone Energy Transition Partners, the company’s team for equity investments in energy-related businesses. 

David Foley, the global head of Blackstone Energy Transition Partners, said, “DarkVision is exactly the type of business we look to back: a market-leading company built by exceptional entrepreneurial founders, with differentiated technology and strong customer relationships.”

Terms of the transaction were not released.