Aug 6 (Reuters) - Blackstone, the world's largest
alternative asset manager, said on Wednesday it has agreed to
buy energy data and analytics provider Enverus, as dealmaking in
the private equity sector shows signs of a recovery after a
slowdown.
Reuters exclusively reported last week that Blackstone had
emerged as the frontrunner to buy Enverus.
While the asset manager did not reveal the financial terms,
a source familiar with the matter said the deal values the
target at $6.5 billion.
Easing economic uncertainty and the prospect of potential
rate cuts, coupled with pent-up demand for dealmaking, have made
a fertile environment for a revival in mergers and acquisitions
after a tariff-driven slowdown.
Blackstone President and Chief Operating Officer Jonathan
Gray had said last month the "dealmaking pause was behind us".
The Enverus deal marks Blackstone's latest investment in the
energy sector. In January, a unit of the asset manager had
agreed to acquire a 774-megawatt natural gas power plant in
Virginia.
"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," said Enverus CEO Manuj Nikhanj.
"This is more than a transaction - it's a launchpad."
Founded in 1999, Enverus provides analytics and benchmark
data sourced from U.S. energy producers and more than 40,000
suppliers. The Austin, Texas-based company has over 8,000
customers across 50 countries - from exploration and production
companies to power and utilities.
Reuters reported in May that private equity firm Hellman &
Friedman had launched a sale process for Enverus, which
attracted interest from buyout firms and other companies.
H&F had bought Enverus from another PE firm Genstar Capital
in a $4.25 billion deal in 2021.
RBC Capital Markets and Simpson Thacher & Bartlett advised
Blackstone on the deal, which is expected to close by the end of
2025. Citi, Morgan Stanley and Kirkland & Ellis advised Enverus
and H&F.
