Private equity firm Hellman & Friedman is nearing a potential $6bn exit from Enverus, as Intercontinental Exchange Inc (ICE) – the owner of the New York Stock Exchange – is in advanced talks to acquire the energy data and analytics provider, according to a report by Bloomberg.
The report cites unnamed people familiar with the matter as highlighting that the deal, if finalised, would mark a significant realisation for Hellman & Friedman, which acquired Enverus from Genstar Capital in 2021 at a valuation of $4.25bn including debt. A successful sale to ICE would represent a material uplift in valuation in under four years, highlighting the growing strategic value of energy data assets.
Founded in Austin, Texas, Enverus offers mission-critical analytics and SaaS solutions to the global energy industry. It aggregates proprietary data from over 95% of US energy producers and 40,000 suppliers, serving a client base of approximately 8,000 customers across 50 countries. Its platform has become increasingly valuable amid heightened energy market volatility and the push for digital transformation across the sector.
The proposed transaction, reportedly the result of a competitive auction process, would be one of ICE’s five largest acquisitions to date. The buyer has been active in expanding its footprint in data and analytics, following its $13.1bn acquisition of Black Knight in 2022.
For Hellman & Friedman, a successful exit would mark another major liquidity event from a data-centric portfolio strategy. The firm, known for backing enterprise software, financial data, and vertical SaaS platforms, continues to generate strong returns by scaling and streamlining digital infrastructure assets across high-growth sectors.
No final agreement has been signed though, and talks may still fall through.
