Blackstone Energy Partners Announces Majority Investment in Geosyntec, Leading Global Provider of Environmental Engineering, Design, and Consulting Services
10 May 2022 - 10:00PM
Business Wire
Blackstone (NYSE: BX) announced today that Blackstone Energy
Partners (“Blackstone”) has agreed to make a majority investment in
Geosyntec Consultants, Inc. (“Geosyntec”). Geosyntec is a leading
environmental engineering and design consulting firm, focused on
delivering technical solutions to a wide range of clients to
address their environmental restoration, geotechnical, coastal,
water quality and supply, infrastructure, and energy transition
needs. With a team of more than 1,700 engineers, scientists, and
other key employees, Geosyntec operates from more than 90 offices
in the United States, Canada, Europe, Australia, and the Middle
East.
Darius Sepassi, a Managing Director at Blackstone, said: “As
demand for environmental engineering and consulting services
continues to rise, we believe Geosyntec’s trusted reputation for
quality and technical expertise makes the company exceptionally
well positioned to further scale to meet this growing opportunity.
We are excited to work with their experienced management team and
highly accomplished engineers and scientists in the years ahead to
help power their continued expansion.”
According to David Foley, Global Head of Blackstone Energy
Partners: “The transition to a more environmentally sustainable
future is a core investment theme for Blackstone and since 2019,
the firm has committed approximately $16 billion in projects and
companies that we believe are consistent with the broader energy
transition. Today’s announcement builds on recent investments
including Aypa, Array, Therma, Sabre and TDI.”
Peter Zeeb, President & CEO of Geosyntec commented: “Our
partnership with Blackstone Energy Partners will fuel continued
leadership in our core markets while accelerating our growth and
success in new and emerging markets and geographies. It will also
strengthen our ability to grow through strategic acquisitions and
recruiting of top talent while enhancing our position as a
preferred employer for innovative engineers and scientists. We
foresee substantial benefits to our employees and clients as we
expand our capabilities and service offerings, and as we support
our clients in larger and more complex projects.”
Rudolph Bonaparte, Chairman of the Board of Geosyntec,
commented: “Countries around the world face enormous technical
challenges in the energy transition, infrastructure renewal and
development, climate change mitigation and adaptation, disaster
response, and water supply. The scale and complexity of these
challenges require transformational change, technical innovation,
and creative partnerships. With Blackstone Energy Partners, we are
ideally positioned to help our clients respond to these urgent and
complex challenges while continuing our tradition of providing
vibrant and rewarding career and ownership opportunities to our
employees.”
Terms of the transaction were not disclosed. Geosyntec was
advised by AEC Advisors and Keating Muething & Klekamp PLL.
Blackstone was represented by Perella Weinberg Partners and Vinson
& Elkins LLP.
About Geosyntec Consultants
Geosyntec is a leading consulting and engineering firm that
works with private and public sector clients to address new
ventures and complex problems involving our environment, natural
resources, and civil infrastructure. We are internationally known
for our technical leadership, exceptional client service, and
ability to deliver best-value solutions for our clients. We are a
vibrant, practice-centered business with a strong desire for
continuous self-improvement and ongoing reinvention to meet the
evolving needs of our current clients, and to productively engage
with new ones. As a practitioner-led firm, we create exceptional
career opportunities for our employees through involvement in
challenging projects, effective mentoring, valuable professional
development and training opportunities, and broad engagement with
clients.
About Blackstone Energy Partners
Blackstone Energy Partners, Blackstone’s energy-focused private
equity business, is a leading energy investor with a successful
long-term record, having invested over $20 billion of equity
globally across a broad range of sectors within the energy
industry. Our investment philosophy is based on backing exceptional
management teams with flexible capital to provide solutions that
help energy companies grow and improve performance, thereby
delivering reliable and affordable energy to meet the needs of the
global community. In the process, we build stronger, larger scale
enterprises, create jobs, and generate lasting value for our
investors, employees, and all stakeholders.
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Kate Holderness kate.holderness@blackstone.com 646-482-8774
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