Blackstone has finalized an agreement to acquire Enverus, a prominent data analytics and energy intelligence platform, from Hellman & Friedman and Genstar Capital. This acquisition aligns with Blackstone’s strategic focus on energy transition and the increasing demand for electricity.

Founded in 1999, Enverus is a leading provider of software-as-a-service (SaaS) and analytics for the energy sector. The platform serves over 8,000 customers in 50 countries, collaborating with many U.S. energy producers to deliver real-time data and insights.

While the financial terms of the deal remain undisclosed, it is anticipated to close by the end of the year. Blackstone Energy Transition Partners and its private equity strategy for individual investors are expected to participate in the investment.

Citi and Morgan Stanley acted as financial advisors for the transaction, while Kirkland & Ellis provided legal counsel to Enverus and Hellman & Friedman. RBC Capital Markets and Simpson Thacher & Bartlett served as advisors for Blackstone.

Enverus CEO Manuj Nikhanj expressed enthusiasm about the acquisition, stating that it serves as a launchpad for the company’s future. He emphasized the importance of AI and real-time intelligence in shaping the energy sector and noted that Blackstone’s global reach and expertise would help accelerate Enverus’s growth and innovation.

Blackstone’s Senior Managing Directors, Eli Nagler and Bilal Khan, highlighted Enverus’s role as a leading energy-focused SaaS platform. They believe that Blackstone’s expertise in the energy market will enhance Enverus’s growth trajectory and are eager to collaborate with the Enverus team.

Ben Farkas, a Partner at Hellman & Friedman, reflected on the successful four-year partnership with Enverus, noting its leadership in SaaS, data, and analytics within the energy market. He praised the company for pioneering AI-driven solutions and expanding its market reach, setting a new standard for the industry.

Eli Weiss, Managing Partner of Genstar Capital, also expressed pride in Enverus’s achievements during this period of innovation and growth, affirming confidence in the company’s future success.

Overall, the acquisition of Enverus by Blackstone marks a significant step in the energy sector, emphasizing the importance of advanced analytics and technology in navigating the evolving landscape of electricity demand and energy transition.