By Milana Vinn
NEW YORK (Reuters) -Blackstone is exploring a $3 billion sale of Sphera, a sustainability software and consulting services provider, according to three people familiar with the matter.
The private equity firm has hired investment bankers at William Blair and Evercore to run the sale, which is in its early stages, said the people who requested anonymity speaking about confidential matters.
Blackstone declined to comment. Evercore, William Blair, and Sphera did not immediately respond to Reuters’ request for comments.
Chicago, Illinois-based Sphera, provides risk management software as well as data and consulting services to corporations to help them stay compliant with environmental, health, safety and sustainability guidelines and other related matters.
The company has served more than 8,400 customers globally across 95 countries, according to Sphera’s website. Some of its global customers include Danone, Siemens, Mercedes-Benz, Wrangler, and others.
Sphera generates over $300 million in annual revenue and more than $100 million in earnings before interest, taxes, depreciation, and amortization (EBITDA), the sources said. The company is expected to fetch close to $3 billion in a potential sale, the people added.
Blackstone planned to shed twice as many portfolio holdings in 2025, compared to last year. However, dealmaking has cooled since the Trump administration sparked a global trade war in early April.
Despite the slowdown in M&A, private equity firms are facing pressure to return capital to their limited partners (LPs), leading to process launches of private equity’s most resilient assets.
(Reporting by Milana Vinn in New York; Editing by Sonali Paul)
