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Record-Breaking Sphera Acquisition Signals Growing Importance of ESG Issues

(Credit: Sphera)

Private equity funds managed by Blackstone have entered into a definitive agreement to acquire Sphera, a provider of ESG software, data, and consulting services, from Genstar Capital. The investment, which values the company at approximately $1.4 billion, would be made through Blackstone’s flagship private equity vehicle. This is the highest ever valuation for an EHS software vendor, and also represents the highest-value acquisition the market has seen, Blackstone says.

The increasing importance of ESG issues to businesses globally has become a key investing strategy for Blackstone. Sphera has “world-class technology” and an exceptional position in the fast-growing ESG sector, according to Martin Brand, head of North American Private Equity at Blackstone; the company looks forward to helping accelerate “Sphera’s further expansion,” Brand says.

With the significant investment of new capital, Sphera will expand the ESG digital solutions on its SaaS platform with “unique data sets and differentiated consultative services,” says Paul Marushka, Sphera’s president and CEO.

Sphera’s experts work with organizations to help them manage and mitigate ESG risk through its SaaS software, proprietary data and consulting services. The company has more than 3,000 customers in more than 100 countries.

A recent BlackRock survey showed that 88% of investors say that a top sustainability portfolio concern for them is climate-related risks. They also say that they plan to double their ESG assets in five years (via Sphera).

It is more important than ever for business leaders to develop their strategic approach to ESG, according to a recent report from Jefferies: “Liability risk is mounting. More than 1,650 climate-change-related lawsuits have been filed against companies and governments to date.”

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