Blackstone Announces Agreement to Acquire Enverus
Enverus was founded in 1999 and is a comprehensive data analytics platform empowering its customers鈥� capital allocation and asset optimization decisions across the entire energy ecosystem. Today, it is the largest and fastest-growing SaaS company and analytics provider dedicated to the energy market. It enables its 8,000 customers across 50 countries with real-time access to analytics, insights, and benchmark data from generative AI and partnerships with more than 95 percent of
鈥淭his is more than a transaction 鈥� it鈥檚 a launchpad,鈥� said Manuj Nikhanj, CEO of Enverus. 鈥淏lackstone 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 鈥� helping us scale faster, build smarter, and deliver transformational outcomes for our customers. It is thanks to a strong partnership with H&F that Enverus is the company we are today. I am incredibly proud of what our team has built 鈥� especially our breakthrough work in power markets 鈥� and more excited than ever for what comes next.鈥�
Eli Nagler and Bilal Khan, Senior Managing Directors at Blackstone, said: 鈥淎s the leading energy-dedicated SaaS platform, Enverus鈥� advanced analytics and technology solutions are critical for its customers as they navigate unprecedented AI-driven electricity demand growth and the broader energy transition. We believe Blackstone鈥檚 energy market expertise and network can further enhance the company鈥檚 growth trajectory, and look forward to partnering with Manuj and the Enverus team.鈥�
鈥淎fter four years of tremendous partnership, Enverus stands as the clear SaaS, data, and analytics leader empowering the energy market,鈥� said Ben Farkas, Partner at Hellman & Friedman. 鈥淲e set out with a mission to build on the company鈥檚 core strengths, accelerate innovation, and expand its reach across the energy value chain. Today they are pioneering GenAI-powered solutions, scaling into new markets, and enabling smarter and more efficient decisions for customers worldwide. The company鈥檚 growth and culture of innovation have set a new standard for the industry. It鈥檚 been a privilege to partner with Manuj Nikhanj, Jeff Hughes, and the full Enverus team. We are confident Enverus is exceptionally well-positioned to shape the future of global energy.鈥�
鈥淪upporting Enverus through this exciting period of innovation and growth has been a great journey,鈥� said Eli Weiss, Managing Partner of Genstar Capital. 鈥淲e鈥檙e proud of the team鈥檚 achievements and are confident they are well positioned for continued success.鈥�
Enverus represents the latest in a number of recent transactions Blackstone has announced behind its high-conviction investment themes in electricity demand growth and the ongoing energy transition, such as , , , , and others. Blackstone鈥檚 core private equity strategy, Blackstone Energy Transition Partners, and Blackstone鈥檚 private equity strategy for individual investors are each expected to invest in Enverus as part of this transaction.
Terms of the transaction were not disclosed. 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. RBC Capital Markets, LLC served as financial advisor and Simpson Thacher & Bartlett LLP served as legal advisor to Blackstone.
About Blackstone
Blackstone is the world鈥檚 largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone鈥檚
About Enverus
Enverus is the energy industry鈥檚 most trusted source for decision intelligence. With petabytes of proprietary data, deep domain expertise, and AI-native technology, Enverus empowers customers to invest smarter, operate more efficiently, and scale faster 鈥� across upstream, midstream, minerals, power, and renewables 鈥� all while navigating the most complex energy market in history. Learn more at .
About Hellman & Friedman
Hellman & Friedman is a preeminent global private equity firm with a distinctive investment approach focused on a limited number of large-scale equity investments in high-quality growth businesses. H&F seeks to partner with world-class management teams where its deep sector expertise, long-term orientation, and collaborative partnership approach enable companies to flourish. H&F targets outstanding businesses in select sectors, including technology, financial services, healthcare, consumer services & retail, and information, content & business services. Since its founding in 1984, H&F has invested in over 100 companies and has over
About Genstar Capital
Genstar Capital is a leading private equity firm that has been actively investing in high-quality companies for over 35 years. Based in
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Media
Blackstone
Matt Anderson
[email protected]
(518) 248-7310
Jennifer Heath
[email protected]
(347) 603-9256
Enverus
Jon Haubert
[email protected]
(303) 396-5996
Hellman & Friedman
Dan Abernethy
[email protected]
(646) 238-3902
Source: Blackstone
