Alternative asset manager Blackstone announced an agreement to acquire data analytics energy intelligence platform Enverus, from private equity investors Hellman & Friedman and Genstar Capital.
Hellman & Friedman acquired a majority stake in Enverus from Genstar in 2021, at a valuation of $4.25 billion. While terms of the Blackstone acquisition were not released, a Bloomberg report citing people familiar with the transaction said that the deal could value Enverus at more than $6 billion.
Founded in 1999, Texas-based Enverus provides an energy-focused SaaS platform, aimed at supporting capital allocation and asset optimization decisions across the energy ecosystem. According to Blackstone, Enverus is the largest and fastest-growing SaaS company and analytics provider dedicated to the energy market, with 8,000 customers across 50 countries.
Manuj Nikhanj, CEO of Enverus, said:
“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 said that the acquisition represents the latest in a series of transactions behind its high-conviction investment themes in electricity demand growth and the ongoing energy transition, which also included the recent acquisitions of power solutions provider Trystar, data center-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 include investments from Blackstone’s core private equity strategy, Blackstone Energy Transition Partners, and Blackstone’s private equity strategy for individual investors.
Eli Nagler and Bilal Khan, Senior Managing Directors at Blackstone, said:
“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.”
