Blackstone - DarkVision Technologies

WA-75040

Dynamo Bidco, Inc., an affiliate of various funds advised and/or managed by affiliates of Blackstone Inc. (**Blackstone**), proposes to acquire 100% of the equity interests of DarkVision Technologies Inc. (**DarkVision**) held by Koch ES Canada Holdings, Ltd and other shareholders (the **Acquisition**). DarkVision is a Canadian company that develops advanced ultrasound imaging technology to capture high resolution imaging data of industrial assets, including oil and gas wells and pipelines. DarkVision’s three core products globally are: * Hades, a downhole inspection tool and ultrasound imaging system for oil and gas wells, * Kraken, an in-line inspection tool and ultrasound platform for transmission pipelines, and * Hydra, an ultrasonic mobile or embedded inspection device, enabled by a proprietary ASIC chip, which is in development. In Australia, DarkVision’s activities are limited to the supply of downhole imaging services to companies in the oil and gas industry via the Hades product. Blackstone is a US-based corporation, incorporated under the laws of Delaware, United States. Blackstone operates as an investment management firm, not as a conglomerate or holding company. Accordingly, each company in its investment portfolio is independently managed and financed and each has different investors (although the investors in different investment funds may overlap). Each Blackstone portfolio company has its own board of directors, which generally also include Blackstone representatives.