TLDR: Blackstone has entered a definitive agreement to acquire Enverus, a leading energy data analytics and intelligence platform, from Hellman & Friedman and Genstar Capital. The deal, valued at over $6 billion and potentially up to $6.5 billion, underscores Blackstone’s strategic focus on the evolving energy sector and Enverus’s role in leveraging AI and real-time intelligence for energy optimization.
New York, NY – August 9, 2025 – Global investment firm Blackstone has announced a definitive agreement to acquire Enverus, a premier energy data analytics and intelligence platform, from private equity firms Hellman & Friedman (H&F) and Genstar Capital. The transaction, which is expected to close by the end of 2025, is valued at more than $6 billion, with potential earnout provisions pushing the total consideration to $6.5 billion. Blackstone’s commitment for the acquisition is estimated to be between $6.1 billion and $6.4 billion, with approximately $3 billion financed through debt.
Enverus, founded in 1999 and headquartered in Austin, Texas, stands as the largest SaaS and analytics provider exclusively dedicated to the energy industry. The company aggregates and analyzes data from over 95% of U.S. energy producers and more than 40,000 suppliers. Its comprehensive suite of real-time analytics, insights, and benchmark data serves over 8,000 customers across 50 countries, including exploration and production (E&P) firms, utilities, and energy infrastructure players, helping them optimize capital allocation and manage assets across the entire energy value chain.
This acquisition marks a significant strategic move for Blackstone, further solidifying its investment in the energy sector. It follows the firm’s January purchase of a 774-megawatt natural gas power plant in Virginia. Jonathan Gray, President and COO of Blackstone, recently indicated a renewed appetite for dealmaking across the private equity landscape, stating that the ‘dealmaking pause was behind us.’
The deal also highlights the increasing importance of data and advanced analytics in the ongoing energy transition. Manuj Nikhanj, CEO of Enverus, emphasized this synergy, stating, ‘Blackstone shares our conviction that the future of energy will be defined by AI, real-time intelligence, and bold execution.’ He further added, ‘Their global reach and deep expertise across energy, infrastructure, and data-rich industries will accelerate our momentum.’ The acquisition is specifically anticipated to enhance Enverus’s capabilities in artificial intelligence and real-time intelligence.
H&F had acquired Enverus from Genstar Capital in 2021 for $4.25 billion, making this sale another successful outcome for H&F’s strategy of scaling digital infrastructure assets. The competitive sale process saw Blackstone emerge as the frontrunner, reportedly beating out other interested parties, including Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange.
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Advisory roles for the transaction included RBC Capital Markets and Simpson Thacher & Bartlett LLP for Blackstone. Citi, Morgan Stanley, and Kirkland & Ellis LLP advised Enverus and Hellman & Friedman.
