Blackstone and Vista Equity Partners said they will acquire Australia’s Energy Exemplar, a provider of energy market software, from private equity firm Riverside Company in a deal that sources noted was worth more than $US1 billion .Energy Exemplar provides software tools that are used by more than 500 companies in 79 countries to simulate and forecast the electric, water, gas and renewable energy markets.Reuters reported the move earlier in the day before the companies had unveiled the deal.
The deal represents a bet on energy transition, as power utilities, grid operators and renewable energy developers turn to simulation software to fine tune use of production capacity and maximise efficiencies.Energy Exemplar has grown at an annual compound rate of 30 per cent since 2018 under Riverside’s ownership, the sources said.
Bilal Khan, senior managing director at Blackstone Energy Transition Partners, said the company is excited to work with Vista and Energy Exemplar to “drive the next stage of development for Energy Exemplar and its technology solutions supporting grid reliability and decarbonisation”. The New York-based buyout firm has been moving aggressively into this area, declaring last year that it saw an opportunity to deploy $US100 billion in energy transition and climate change solutions projects over the next decade.
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