Private equity firm Hellman & Friedman acquires majority stake in Enverus

U.S. private equity firm Hellman & Friedman agreed to buy a majority stake in energy data and analytics provider Enverus from Genstar Capital, the companies said.

The deal values Enverus at $4.25 billion including debt, according to a person familiar with the matter. Genstar Capital will retain an undisclosed stake in Enverus, which has grown rapidly through acquisition. It has more than 1,400 employees.

Hellman & Friedman “are eager to support our vision of providing customers with the most accurate and actionable intelligence available so they can deliver energy to the world,” said Jeff Hughes, chief executive officer of Enverus.

Genstar Capital in 2018 acquired its stake in what was then called DrillingInfo from Insight Venture Partners and renamed the business a few months later.

Enverus was advised on the transaction by Goldman Sachs GSGSC.UL and Simpson Thacher & Bartlett LLP. Credit Suisse and Kirkland & Ellis LLP advised Hellman & Friedman.