Blackstone has announced a definitive agreement to acquire Enverus, a leading energy data analytics and intelligence platform, from private equity firms Hellman & Friedman and Genstar Capital. The terms of the deal were not disclosed, but the transaction is expected to close by the end of the year, pending customary approvals.
Founded in 1999, Enverus provides real-time analytics, benchmark data, and insights to over 8,000 customers in 50 countries, including 95% of U.S. energy producers and 40,000 suppliers. It has grown into the largest and fastest-growing SaaS and analytics provider dedicated to the global energy market, with expanding applications in generative AI and power market intelligence.
Manuj Nikhanj, CEO of Enverus, described the deal as a strategic milestone: “This is more than a transaction – it’s a launchpad. Blackstone’s global network and deep sector expertise in energy, infrastructure, and data-rich industries will help accelerate our growth and impact.”
Blackstone’s Eli Nagler and Bilal Khan highlighted Enverus’ value proposition amid rising AI-driven electricity demand and the energy transition. “Enverus’ technology and analytics are essential to customers navigating the complexities of today’s energy landscape. We look forward to supporting its next phase of growth,” they stated.
The acquisition continues Blackstone’s series of strategic investments in the energy and infrastructure space, aligning with its high-conviction themes in electrification and decarbonisation. Previous related investments include Potomac Energy Center, Sediver, Westwood Professional Services, and Trystar. The deal will involve capital from Blackstone’s core private equity strategy and its Energy Transition Partners platform.
Outgoing investors praised Enverus’ trajectory. Ben Farkas of Hellman & Friedman said the company had become a category leader in energy SaaS and analytics. “Enverus is now pioneering GenAI-powered solutions and expanding its impact across the energy value chain,” he said.
Eli Weiss, Managing Partner at Genstar Capital, also acknowledged the firm’s support for Enverus through a period of innovation and rapid growth, expressing confidence in its future prospects.
Citi and Morgan Stanley & Co. served as financial advisors to Enverus and its outgoing investors, with legal counsel from Kirkland & Ellis LLP. Blackstone was advised by RBC Capital Markets and Simpson Thacher & Bartlett LLP.
