Private quity investors Blackstone and Vista Equity Partners announced an agreement to acquire energy market simulation software provider Energy Exemplar, with the investment aimed at accelerating the company’s growth and innovation to support grid reliability and the energy transition..
Founded in 1999, Australia-based Energy Exemplar provides optimization-based energy market simulation solutions enabling users to model and understand the increasingly complex energy transition landscape in a single unified platform. The company’s products are used by utilities, power producers, grid system operators, and others in the energy transition ecosystem to forecast market operations, drive long-term investments, and optimize ongoing operations across their assets and systems.
David Wilson, CEO of Energy Exemplar said:
“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.”
Energy Exemplar was acquired by private equity group Riverside Company in 2017, and has grown at 30% CAGR since 2018,currently serving over 500 customers in 79 countries.
Ryan Atlas, Managing Director at Vista Equity Partners said:
“Energy Exemplar is an established category leader with outsized growth potential in a rapidly evolving global energy market. Its platform provides a holistic view of the impact traditional and emerging energy systems have on the businesses of those leading the energy transition.”
The acquisition marked the latest in a series of energy transition-related transactions for Blackstone. Last year Blackstone stated that it sees an opportunity to invest an estimated $100 billion in energy transition and climate change solutions projects over the next decade.
Bilal Khan, Senior Managing Director at Blackstone Energy Transition Partners, said:
“We’re thrilled to be backing Energy Exemplar, a mission-critical software provider supporting the growth of renewable energy, battery storage, and transmission grid investment required for the energy transition. Blackstone’s energy market expertise and network of connections can enhance the company’s growth trajectory. We couldn’t be more excited to work with Vista, David, and the management team to drive the next stage of development for Energy Exemplar and its technology solutions supporting grid reliability and decarbonization. This investment is the latest in a series demonstrating Blackstone’s conviction in the energy transition.”