Blackstone/Vista nab $1.57b Energy Exemplar; G+T, HSF on ticket
Blackstone and Vista Equity Partners bested a crowd of offshore sponsors and strategics at the eleventh hour to secure Energy Exemplar, the tearaway energy analytics business owned by The Riverside Company.
Street Talk understands Blackstone – which ran the deal out of New York – and Vista had withdrawn from the race as of October, with a rival buyout fund set to be anointed preferred bidder. The pair were coaxed back into the process by sell-side adviser Lazard late last week, and the $1.57 billion deal signed on Tuesday.
Riverside’s Australia Fund (RAF) invested in Energy Exemplar in 2017. While it is based in Australia, the business has largely migrated to the United States, growing at 30 per cent at a compounded annual growth rate.
Riverside managing partner Simon Feiglin played a pivotal role in growing Energy Exemplar from a small Australian firm to a global power market leader. AFR
Lazard was joined on the sell-side by law firms Jones Day in the United States and Herbert Smith Freehills in Australia, and Deloitte for tax purposes. Blackstone and Vista worked with Chicago-headquartered boutique William Blair, while Kirkland & Ellis and Gilbert + Tobin were on legals and EY on tax.
“We’re incredibly proud of our partnership and accomplishments with Energy Exemplar over the past six years,” RAF managing partner Simon Feiglin said.
“Riverside invested significantly into R&D, resulting in a leading global cloud product for the industry, building grid databases and establishing new products into business intelligence and insights,” said RAF principal Nicholas Pejnovic.
Riverside took a controlling stake in Energy Exemplar at the time of investment. The firm, which has deep software industry expertise and a global
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