Blackstone announced that Blackstone Energy Partners has agreed to make a majority investment in Geosyntec Consultants, Inc. 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.”

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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.

Source: Blackstone