Blackstone (BX) – Get Blackstone Group Inc. Class A Report announced Tuesday that it agreed to buy Chamberlain Group, owner of smart access products including garage device LiftMaster, for about $5 billion.
New York City-based Blackstone purchased the company from The Duchossois Group, a private equity firm. Blackstone is investing in Oak Brook, IL-based Chamberlain through its core private equity strategy, which invests in companies for longer periods than traditional private equity.
As part of the agreement, The Duchossois Group will retain “meaningful”....More>>>