NEW YORK and CHICAGO, Sept. 14, 2021 (GLOBE NEWSWIRE) — Sphera today announced that private equity funds managed by Blackstone (NYSE: BX, "Blackstone") have completed their previously announced acquisition of Sphera, a leading provider of environmental, social and governance (ESG) software, data and consulting services, from Genstar Capital. The transaction, which values the company at $1.4 billion, continues Blackstone's thematic investment focus on the ESG sector and provides Sphera with capital to help accelerate its growth and product offerings.
Spanning over 80 countries with more than 3,000 customers, Sphera combines its software as a service solution with consulting services, underpinned by proprietary data, to support businesses globally to manage and mitigate ESG risk. This support is delivered through its three product lines: Environment, Health, Safety & Sustainability (EHS&S); Operational Risk Management; and Product Stewardship.
As part of Sphera's strategic growth efforts, the company is also announcing the appointment of Kimberly Kolb as chief human resources officer (CHRO). As CHRO, Kolb will be responsible for developing and supporting Sphera's global workforce as the organization continues to grow its footprint worldwide. She brings over 30 years of human resources, consulting and marketing experience from technology, professional service and financial services firms to the position, and held senior leadership roles at Whittman–Hart, CME Group and XR Trading.
Paul Marushka, CEO and president at Sphera, said, "As we enter this new stage, we are excited to be able to partner with Blackstone. Our achievements to date are a result of the dedication, hard work and effort of the team at Sphera. I am proud to collaborate with such a dedicated team as we take Sphera, with Blackstone's investment and support, to the next level. This partnership with and capital injection by Blackstone will facilitate the next evolution of innovation, cementing our position as leaders and allowing us to push ahead with our vision for ESG software integration with extensive data and world–class consultancy services."
Eli Nagler, a senior managing director at Blackstone, said: "We are excited to partner with Paul Marushka and his team to build on Sphera's strong momentum as a trusted leader in the ESG solutions space. We look forward to supporting the company in the next phase of its growth journey as they continue to expand their product offerings and innovate to best serve their global customer base."
Note to editors
Sphera creates a safer, more sustainable and productive world. We are a leading global provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services with a focus on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management and Product Stewardship. Learn more about Sphera at www.sphera.com. Follow Sphera on LinkedIn.
Blackstone is one of the world's leading investment firms. We seek to create positive economic impact and long–term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $684 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non–investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
Sphera Solutions, Sphera@AspectusGroup.com