Blackstone and Vista Equity to acquire Energy Exemplar in $1bn-plus deal
Summary
Private equity funds affiliated with global private investment giant Blackstone and software-focused private equity firm Vista Equity Partners (Vista), are to acquire Energy Exemplar, a provider of energy market simulation software, in a deal reportedly worth more than $1bn. Under Riverside’s ownership, Energy Exemplar has grown at annual compound rate of 30% since 2018 and currently serves over 500 utilities and power companies and consultants in more than 79 countries. According to a press statement, with the backing of Blackstone and Vista, Energy Exemplar will gain “new resources to help accelerate growth and drive platform innovation in support of grid reliability and the energy transition”. Blackstone is making the investment from its energy transition arm which, according to SEC filings has so far raised $2.2bn for its latest $5.6bn target Blackstone Energy Transition Partners IV fund. Lazard acted as sole financial advisor, and Jones Day and Herbert Smith Freehills served as legal counsel to Energy Exemplar.
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