Enverus Sale Could Hit $6B Valuation as Hellman & Friedman Explores Exit

Private equity firm Hellman & Friedman has launched a potential sale of Enverus, a Texas-based energy software provider, aiming for a valuation of approximately $6 billion, according to a Reuters report citing sources familiar with the matter. The process, still in its early stages, is being managed by Citigroup and has already attracted interest from strategic buyers and rival private equity firms.

Founded to serve the oil and gas sector, Enverus specializes in providing advanced data analytics and software solutions. The company reportedly generates around $400 million in annual EBITDA, placing the target valuation at roughly 15 times EBITDA—a strong multiple that reflects the high demand for energy tech platforms.

Hellman & Friedman acquired Enverus from Genstar Capital in 2021 for $4.25 billion. Genstar still maintains a minority interest in the company. Now, Hellman & Friedman is exploring both a full sale and partial stake divestment, although a final transaction is not guaranteed.

The sale reflects the continued investor interest in digital transformation within the energy sector, especially as oil and gas companies increasingly rely on software to drive operational efficiency. With its strong market position and steady cash flow, Enverus is seen as a highly valuable asset in the growing energy technology space.

A successful deal would mark one of the largest energy software transactions in recent years and could signal renewed momentum for private equity exits amid improving market conditions. The potential sale also underscores the rising valuations for software firms serving traditional industries like energy.