Private equity firm Hellman & Friedman has started the process to sell Enverus, a Texas-based energy software provider, which could be valued at around $6 billion, according to a Reuters report on Friday.
Hellman & Friedman is working with Citigroup Inc. on the deal. The process has already attracted interest from other private equity firms and potential strategic buyers.
Though the sale process is still in its early stages, options under consideration include a full sale or a partial stake divestment. However, the outcome of the transaction is not guaranteed.
Enverus, which offers data analytics and software services to oil and gas companies, generates approximately $400 million in annual EBITDA.
The estimated $6 billion valuation represents a multiple of about 15 times EBITDA.
Hellman & Friedman acquired Enverus from Genstar Capital in 2021 for $4.25 billion. Genstar still holds a minority stake in the company.
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