Newsletter Edition 79
Aug 7, 2025
Blackstone to Acquire Energy Data Leader Enverus in $6.5 Billion Deal
Blackstone has reached an agreement to acquire Enverus, a leading provider of energy data and analytics, from private equity firm Hellman & Friedman (H&F) in a deal that could value the company at up to $6.5 billion, according to Reuters, citing a source familiar with the matter.
The transaction is expected to close by the end of 2025. Blackstone is reportedly committing between $6.1 billion and $6.4 billion, with approximately $3 billion of the deal financed through debt. While financial terms were not officially disclosed, Blackstone had been reported as the frontrunner in a highly competitive sale process.
For H&F, which acquired Enverus from Genstar Capital in 2021 for $4.25 billion, the sale underscores its successful strategy of scaling digital infrastructure assets in high-growth sectors. The deal represents a notable return on investment in just four years.
Founded in 1999 and headquartered in Austin, Texas, Enverus aggregates and analyzes vast datasets from U.S. energy producers and over 40,000 suppliers, offering insights that power decision-making across the energy value chain. The company serves more than 8,000 clients in 50 countries, including exploration & production (E&P) firms, utilities, and infrastructure companies.
The acquisition reflects Blackstone’s growing focus on the energy sector, following its January 2025 purchase of a 774-megawatt natural gas power plant in Virginia. The firm’s President and COO Jonathan Gray recently commented that the “dealmaking pause is behind us,” signaling renewed momentum across the private equity landscape.
The Enverus acquisition bolsters Blackstone’s portfolio of data-driven, infrastructure-focused assets, and aligns with its long-term thesis around digital transformation in traditional sectors like energy.
KKR Clinches £4.8 Billion Deal for Spectris, Beating Advent in Takeover Battle
KKR has won the bidding war for Spectris, the UK-based scientific instruments manufacturer, after raising its offer to £4.8 billion, edging out rival private equity firm Advent International in a closely watched takeover contest, Reuters reports.
The revised offer of £41.75 per share, announced Tuesday, led Spectris to withdraw its earlier recommendation for Advent’s £41.00 per share proposal, which the board had supported just four days prior. KKR’s bid values Spectris’ equity at £4.2 billion, with an enterprise value of £4.8 billion including debt.
The deal caps a month-long bidding war between two of the world’s largest buyout firms, both seeking to capitalize on undervalued UK-listed assets amid favorable market conditions, including post-Brexit valuation gaps, a weaker pound, and relative political stability.
Spectris shares rose 1.4% following KKR’s revised offer.
KKR’s pursuit of Spectris underscores a broader trend of cross-border private equity interest in the UK, particularly from U.S.-based firms armed with significant capital reserves. With many UK companies trading at depressed valuations, global sponsors are actively targeting British corporates as buyout opportunities.
Spectris, which manufactures precision instrumentation and controls for sectors ranging from pharmaceuticals to aerospace, had seen its share price decline by nearly 50% since its 2021 peak. Advent made its initial approach in June 2025, triggering a bidding war that ultimately forced KKR to raise its offer to secure board approval.
The acquisition further signals renewed momentum in European dealmaking as sponsors look beyond macroeconomic uncertainty to pursue strategic, long-term assets in resilient sectors.
Brookfield to Acquire $6 Billion Stake in Duke Energy’s Florida Utility Business
Brookfield Asset Management has agreed to acquire a 19.7% non-controlling stake in Duke Energy’s Florida utility business for $6 billion in cash, as surging electricity demand and infrastructure expansion needs drive investment in the U.S. power sector, Bloomberg reports.
The investment, made through Brookfield’s Super-Core Infrastructure strategy, will be deployed gradually through 2028. Duke Energy said the proceeds would help support a boost in its five-year Florida capital expenditure plan, which has been increased from $12 billion to $16 billion through 2029.
The move reflects a growing trend among utilities seeking alternative funding sources to scale grid infrastructure without issuing new equity or increasing debt levels. The influx of demand — driven by AI-powered data center growth, population expansion, and broader electrification trends — is putting pressure on utilities to expand capacity while maintaining financial discipline.
Florida has emerged as a top-tier energy growth market, recording the fastest population growth in the U.S. in 2024, second only to Texas. Duke has already secured regulatory approval for $1.1 billion in storm recovery costs following last year’s hurricane season, underlining both the investment needs and regulatory support in the region.
In parallel, Duke recently announced the sale of its Tennessee natural gas assets to Spire, a move aimed at streamlining operations and raising capital.
Duke Energy noted that proceeds from the Brookfield transaction will be used to reduce debt and strengthen its credit profile, a key goal as the company ramps up long-term infrastructure investments.
The transaction is expected to close in early 2026, pending approvals from the Federal Energy Regulatory Commission (FERC), the Committee on Foreign Investment in the United States (CFIUS), and potentially the U.S. Nuclear Regulatory Commission (NRC).