Blackstone to Acquire Energy Data Firm Enverus in $6.5 Billion Deal
Blackstone, the world’s largest alternative asset manager, announced on Wednesday it has agreed to acquire energy data and analytics provider Enverus. Sources indicate the deal could be valued at up to $6.5 billion if Enverus meets certain financial targets, with Blackstone committing between $6.1 billion and $6.4 billion for the acquisition. The transaction is expected to be partly financed by approximately $3 billion in debt.
This acquisition marks a sign of revival in private equity dealmaking following a slowdown caused by economic uncertainties and tariffs. Blackstone’s President Jonathan Gray recently noted that the “dealmaking pause was behind us.”
Enverus, based in Austin, Texas, provides analytics and benchmark data to over 8,000 customers worldwide, spanning energy producers, suppliers, utilities, and power companies. Founded in 1999, it leverages AI and real-time intelligence in the energy sector—a focus highlighted by Enverus CEO Manuj Nikhanj, who called the partnership a “launchpad” for growth.
Blackstone’s investment follows its recent moves in energy, including the acquisition of a large natural gas power plant in Virginia earlier this year. The deal, expected to close by the end of 2025, was advised by RBC Capital Markets and Simpson Thacher & Bartlett, while Citi, Morgan Stanley, and Kirkland & Ellis advised Enverus and its current owner Hellman & Friedman.
Hellman & Friedman, which acquired Enverus in 2021 for $4.25 billion, initiated the current sale process, drawing interest from multiple buyout firms.