Blackstone, an alternative asset manager, has acquired The Chamberlain Group LLC, a provider of smart access solutions, from The Duchossois Group, Inc.
Blackstone is investing in Chamberlain through its core private equity strategy, investing in high-quality, market leading companies for longer periods than a traditional private equity firm. Duchossois Group will continue to hold equity ownership and will fill two seats on the board of directors
The investment provides Chamberlain with increased resources and expertise to scale its software into new markets. Furthermore, the firm expects to reach a broader customer base as it accesses Blackstone’s extensive network of markets.
“Today represents an important milestone in Chamberlain Group’s transformation as we begin our next chapter of growth and innovation with Blackstone as our long-term partner,” added JoAnna Sohovich, the incoming chair of Chamberlain Group’s board of directors.
“Chamberlain Group is an enduring market leader and we are thrilled to invest in this outstanding business for the long term,” said Peter Wallace, global head of core private equity at Blackstone.