Blackstone to Acquire Enverus, Energy Intelligence Platform

Blackstone has agreed to acquire Enverus, a data analytics energy intelligence platform, from Hellman & Friedman and Genstar Capital. Enverus empowers 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 more than 95% of US energy producers and 40,000 suppliers. The acquisition is expected to accelerate Enverus' momentum and growth trajectory.

Blackstone (NYSE:BX) has agreed to acquire Enverus, a leading energy data analytics platform, from Hellman & Friedman and Genstar Capital. The acquisition, which could value Enverus at over $6 billion, underscores Blackstone's strategic focus on the energy transition and electricity demand growth [1].

Enverus, founded in 1999, is a comprehensive data analytics platform empowering its customers 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. The platform, currently the largest and fastest-growing SaaS company in the energy market, enables its 8,000 customers across 50 countries to make smarter decisions [2].

The acquisition is expected to accelerate Enverus' momentum and growth trajectory. Manuj Nikhanj, CEO of Enverus, stated, "This is more than a transaction – it’s a launchpad. 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, added, "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" [2].

The transaction is expected to close by the end of the year, subject to customary conditions. Financial advisors to the deal include Citi and Morgan Stanley & Co. LLC, while legal advisors are Kirkland & Ellis LLP and Simpson Thacher & Bartlett LLP [2].

References:
[1] https://www.investing.com/news/stock-market-news/blackstone-to-acquire-energy-data-platform-enverus-in-6-billion-deal-93CH-4173135
[2] https://www.marketscreener.com/news/blackstone-announces-agreement-to-acquire-enverus-ce7c5ed9d18df622