Blackstone is exploring a potential $3bn sale of Sphera, a global provider of sustainability-focused software and consulting services, as the private equity giant looks to monetise one of its more resilient portfolio assets, according to a report by Reuters.
The report cites unnamed sources familiar with the matter as confirming that investment banks William Blair and Evercore have been appointed to run the sales process, which is still in its early stages. Blackstone, Evercore, William Blair, and Sphera, all declined to comment.
Headquartered in Chicago, Sphera delivers risk management software, environmental data, and consulting services to help companies meet evolving ESG, sustainability, and regulatory compliance requirements. The company supports more than 8,400 clients across 95 countries, with major corporate customers including Siemens, Danone, Mercedes-Benz, and Wrangler, according to its website.
The business generates more than $300m in annual revenue and over $100m in EBITDA, sources said, making a potential $3bn valuation plausible based on current market multiples for high-margin, ESG-focused enterprise software providers.
Blackstone acquired Sphera in 2021 from Genstar Capital for $1.4bn, and has since expanded the platform through bolt-on acquisitions and increased demand for ESG compliance tools across industries.
