Blackstone to Acquire Sphera, a Leading Provider of ESG Software, Data, & Consulting Services, From Genstar Capital for $1.4 ...
July 06 2021 - 10:00AM
Business Wire
Blackstone (NYSE:BX) announced today that private equity funds
managed by Blackstone (“Blackstone”) have entered into a definitive
agreement to acquire Sphera, a leading provider of Environmental,
Social and Governance (ESG) software, data, and consulting
services, from Genstar Capital. The investment, which values the
company at approximately $1.4 billion, would be made through
Blackstone’s flagship private equity vehicle.
Through SaaS software, proprietary data and consulting services,
Sphera’s experts work with organizations around the world to help
them surface, manage, and mitigate ESG risk in the areas of
Environment, Health, Safety & Sustainability, Operational Risk
Management and Product Stewardship. The company has more than 3,000
customers in more than 100 countries.
Eli Nagler, a Senior Managing Director at Blackstone, said: “The
increasing importance of environmental, social, governance issues
to businesses globally is a key thematic investing focus for
Blackstone. Sphera has established itself as a market leader in the
ESG software and solutions space, and we’re excited to partner with
Paul and this best-in-class management team to continue to
accelerate their impressive growth trajectory.” Martin Brand, Head
of North American Private Equity at Blackstone and Global Co-Head
of Technology Investing, added: “Sphera has built world-class
technology and is exceptionally well positioned in the fast-growing
ESG sector. We are looking forward to helping Paul and his team
accelerate Sphera's further expansion.”
Paul Marushka, President and CEO of Sphera, said: “We are
excited to partner with Blackstone on this next stage of our
journey as we drive our vision of integrated Environmental, Social
and Governance (ESG) cloud-based software, data and services. With
this significant investment of new capital, Sphera will expand the
ESG digital solutions on its SaaS platform with unique data sets
and differentiated consultative services throughout the world. On
behalf of the Sphera team, I would like to thank Genstar Capital
for their valuable contributions and strategic partnership over the
years.”
Geoff Miller, Director at Genstar, commented: “In 2016, Genstar
partnered with Paul Marushka to build a leading software platform
in ESG and operational risk management. We have been thrilled with
the leadership position Paul and his team established after the
initial acquisition of Sphera. The Company has made significant
investments in the business, expanded the company’s geographic and
end-market reach, and executed a number of key acquisitions to
expand the company’s portfolio of cloud-based applications. With
Sphera’s strong management team and a robust sales and marketing
organization, the company is poised to continue its growth with the
support from Blackstone’s global team.”
Simpson Thacher & Bartlett LLP served as legal advisor to
Blackstone. Evercore served as financial advisor to Genstar and the
Company, and Willkie Farr & Gallagher LLP served as legal
advisor. Vedder Price served as legal advisor to the Company and
Management.
About Sphera
Sphera creates a safer, more sustainable and productive world.
We are a leading global provider of Environmental, Social and
Governance (ESG) performance and risk management software, data and
consulting services with a focus on Environment, Health, Safety
& Sustainability (EHS&S), Operational Risk Management and
Product Stewardship.
About Blackstone
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our $649 billion in
assets under management include investment vehicles focused on
private equity, real estate, public debt and equity, life sciences,
growth equity, opportunistic, non-investment grade credit, real
assets and secondary funds, all on a global basis. Further
information is available at www.blackstone.com. Follow Blackstone
on Twitter @Blackstone.
About Genstar Capital
Genstar Capital is a leading private equity firm that has been
actively investing in high quality companies for over 30 years.
Based in San Francisco, Genstar works in partnership with its
management teams and its network of strategic advisors to transform
its portfolio companies into industry-leading businesses. Together
with Genstar X and all active funds, Genstar currently has
approximately $33 billion of assets under management and targets
investments focused on targeted segments of the financial services,
healthcare, industrials, and software industries. More information
about Genstar Capital can be found at www.gencap.com.
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Media For Blackstone Matt Anderson
Matthew.Anderson@Blackstone.com 1-518-248-7310 For Genstar Chris
Tofalli chris@tofallipr.com 914-834-4334
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