Blackstone, the world’s largest alternative asset manager, has entered into a definitive agreement to acquire Enverus, a premier data analytics energy intelligence platform. The deal, valued at approximately $8 billion, will see private equity funds affiliated with Blackstone acquire Enverus from Hellman & Friedman and Genstar Capital.
Enverus was founded in 1999 and provides comprehensive data analytics solutions empowering its customers’ capital allocation and asset optimization decisions across the entire energy ecosystem. With real-time access to analytics, insights, and benchmark data from generative AI and partnerships with over 95% of U.S. energy producers and 40,000 suppliers, Enverus is the largest and fastest-growing SaaS company in the energy market.
“This is more than a transaction – it’s a launchpad,” said Manuj Nikhanj, CEO of Enverus. “Blackstone shares our conviction that the future of energy will be defined by AI, real-time intelligence, and bold execution.”
Eli Nagler and Bilal Khan, Senior Managing Directors at Blackstone, noted that Enverus’ advanced analytics and technology solutions are critical for its customers as they navigate unprecedented AI-driven electricity demand growth and the broader energy transition.
The deal marks another high-conviction investment by Blackstone, following recent transactions in the electric demand growth and energy transition space. The transaction is expected to close by the end of the year, subject to customary conditions. Citi and Morgan Stanley & Co. LLC acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to Enverus and Hellman & Friedman, while RBC Capital Markets, LLC served as financial advisor and Simpson Thacher & Bartlett LLP served as legal advisor to Blackstone.
Blackstone’s acquisition of Enverus is expected to enhance the company’s growth trajectory, building on its energy market expertise and network. The deal further solidifies Enverus’ position as the leading SaaS, data, and analytics leader in the energy market.
Source: https://www.blackstone.com/news/press/blackstone-announces-agreement-to-acquire-enverus