Global private equity giants Blackstone and Vista Equity Partners unveiled their collaborative plan to acquire Australian energy market software company Energy Exemplar. This deal, rumored to surpass the $1 billion (A$1.57 billion) mark, aims to drive technological advancements related to grid reliability and the ongoing energy transition, as confirmed in a press statement by Blackstone.
In this landmark acquisition, both Vista and Blackstone will secure an equal 50% stake in Energy Exemplar, with the company's current owner, Riverside Company, making an exit, according to sources cited by Reuters.
Under Riverside's ownership, Energy Exemplar has enjoyed impressive growth, achieving an annual compound rate of 30% over the past five years. The software company's suite of tools, which includes the widely-used Plexos and Aurora cloud software suites, is trusted by over 500 companies across 79 countries to optimize their operations in areas related to electricity, water, gas, and renewables.
David Wilson, CEO of Energy Exemplar, expressed his optimism, stating, “The combination of Blackstone and Vista brings a unique level of expertise in both the energy and software industries, which will continue to propel Energy Exemplar as the go-to solution for the energy transition for all our clients around the world who are leading this charge.”
Blackstone has demonstrated its commitment to the global energy sector, having invested more than $21 billion in equity to date. In a recent funding round, its energy transition division, Blackstone Energy Transition Partners IV, had successfully raised $2.2 billion out of a $5.6 billion target by the end of August. This strategic partnership with Vista Equity Partners underlines Blackstone's ongoing focus on investments in the evolving energy landscape.
