Blackstone has announced an agreement to acquire Enverus, a data analytics energy intelligence platform, from private equity investors Hellman & Friedman and Genstar Capital. Hellman & Friedman acquired a majority stake in Enverus from Genstar in 2021, valuing the company at $4.25 billion. While the specific terms of the Blackstone acquisition have not been disclosed, reports suggest the deal could value Enverus at over $6 billion.
Founded in 1999, Enverus, based in Texas, offers a SaaS platform focused on the energy sector, aiding in capital allocation and asset optimisation decisions. Blackstone describes Enverus as the largest and fastest-growing SaaS company and analytics provider dedicated to the energy market, serving 8,000 customers across 50 countries.
Enverus CEO Manuj Nikhanj 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. Their global reach and deep expertise across energy, infrastructure, and data-rich industries will accelerate our momentum – helping us scale faster, build smarter, and deliver transformational outcomes for our customers.”
Blackstone has positioned this acquisition as part of its strategic investment themes in electricity demand growth and the ongoing energy transition. This includes previous acquisitions of power solutions provider Trystar, data centre-focused natural gas power provider Potomac Energy Center, electrical insulator solutions company Sediver, and renewables and power infrastructure-focused engineering and consulting firm Westwood Professional Services.
The acquisition will involve investments from Blackstone’s core private equity strategy, Blackstone Energy Transition Partners, and its private equity strategy for individual investors. Eli Nagler and Bilal Khan, Senior Managing Directors at Blackstone, remarked, “As the leading energy-dedicated SaaS platform, 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.”
