Enverus: Blackstone Emerges as Frontrunner for $6 Billion Acquisition

Blackstone Inc is leading the race to acquire Enverus, a data and analytics provider for the oil and gas industry, in a potential deal valued at approximately $6 billion, as sourced from insider information. Originally reported by Reuters in May, Hellman & Friedman is considering selling Enverus, based in Austin, Texas. Having initially opted out earlier in the month, Blackstone has re-entered the acquisition process, emerging as the frontrunner, despite previous interest from Veritas Capital. Hellman & Friedman had acquired Enverus from Genstar Capital in 2021 at a valuation of $4.25 billion, which included debt. The acquisition talks have been ongoing for several months; however, a final agreement has not yet been confirmed, with possibilities for new bidders still potentially on the horizon. The software and analytics sector, particularly with firms like Enverus, remains active in dealmaking, despite overall slower transaction volumes in other sectors.