NEW YORK & BOCA RATON, Florida – (BUSINESS WIRE) – May 10, 2022–
Blackstone (NYSE: BX) today announced that Blackstone Energy Partners (“Blackstone”) has agreed to make a majority investment in Geosyntec Consultants, Inc. (“Geosyntec”). Geosyntec is a leading environmental design and engineering consultancy, focused on providing technical solutions to a wide range of customers to meet their environmental, geotechnical, coastal, water quality and supply restoration needs, infrastructure and energy transition. With a team of over 1,700 engineers, scientists and other key employees, Geosyntec operates from over 90 offices in the United States, Canada, Europe, Australia and the Middle East.
Darius Sepassi, Chief Executive Officer of Blackstone, said: “As the demand for environmental engineering and consulting services continues to grow, we believe Geosyntec’s trusted reputation for quality and technical expertise makes the company exceptionally well positioned. to grow further to meet this growing opportunity. We are thrilled to be working with their experienced management team and highly skilled engineers and scientists for years to come to help fuel their continued expansion. “
According to David Foley, Global Head of Blackstone Energy Partners: “The transition to a more environmentally sustainable future is a key investment theme for Blackstone and since 2019 the company has committed approximately $ 16 billion in projects and companies that we believe consistent with the broader energy transition. Today’s announcement is based on recent investments including Aypa, Array, Therma, Saber and TDI. “
Peter Zeeb, President and 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 the recruitment of top talent, while strengthening our position as the preferred employer for innovative engineers and scientists. We anticipate substantial benefits for our employees and customers as we expand our capabilities and service offerings and support our customers in larger and more complex projects. “
Rudolph Bonaparte, chairman of the board of Geosyntec, commented: “Countries around the world face enormous technical challenges in energy transition, infrastructure renovation and development, climate change mitigation and adaptation, disaster response. and in the water supply. The scale and complexity of these challenges require transformative change, technical innovation and creative partnerships. With Blackstone Energy Partners, we are ideally placed to help our clients respond to these pressing and complex challenges, continuing our tradition of providing vibrant and rewarding career and ownership opportunities to our employees. “
Terms of the transaction were not disclosed. Geosyntec was recommended by AEC Advisors and Keating Muething & Klekamp PLL. Blackstone was represented by Perella Weinberg Partners and Vinson & Elkins LLP.
Information on Geosyntec consultants
Geosyntec is a leading engineering and consulting firm working with private and public sector clients to address new initiatives and complex problems affecting our environment, natural resources and civil infrastructure. We are known internationally for our technical leadership, exceptional customer service and the ability to provide better value solutions for our customers. We are a vibrant, practice-centric company with a strong desire for continuous personal improvement and continuous reinvention to meet the evolving needs of our current customers and to engage productively with new ones. As a professionally-led company, we create exceptional career opportunities for our employees through engagement in challenging projects, effective mentoring, valuable professional development and training opportunities, and broad customer engagement.
Information on Blackstone’s energy partners
Blackstone Energy Partners, Blackstone’s energy-focused private equity business, is a major energy investor with a long-term record of success, having invested over $ 20 billion in equities globally across a wide range of sectors across the globe. internal energy sector. Our investment philosophy is based on supporting exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby providing reliable and affordable energy to meet the needs of the global community. In this process, we build stronger and larger-scale businesses, create jobs and generate lasting value for our investors, employees and all stakeholders.
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INDUSTRY KEYWORD: ENGINEERING OTHER PROFESSIONAL SERVICES OTHER ENERGY FINANCIAL PRODUCTION CONSULTING OTHER BUILDINGS AND REAL ESTATE ALTERNATIVE ENERGY BUILDING COMMERCIAL AND REAL ESTATE PROFESSIONAL SERVICES BUILDING AND REAL ESTATE ENVIRONMENT OTHER MANUFACTURING
Copyright Business Wire 2022.
PUB: 05/10/2022 08: 00 / DISCO: 05/10/2022 08:02
Copyright Business Wire 2022.