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Enverus to Acquire SBS for Enhanced Utility Engineering

In a significant move for the energy analytics landscape, Enverus has officially announced its agreement to acquire Spatial Business Systems (SBS), a company renowned for its AI-enhanced design automation tools tailored for electric and gas utilities. The acquisition is set to transform how utility companies approach project planning and engineering execution.

Founded in 2002, SBS has established a strong presence in creating cutting-edge design automation solutions. Their technology is instrumental for utilities that face constant pressure to modernize aging infrastructure, integrate new sources of energy, and meet strict reliability commitments. Enverus' acquisition seeks to leverage SBS's innovative capabilities while enhancing its own offerings, ultimately delivering complex capital projects with remarkable speed and precision.

According to Manuj Nikhanj, CEO of Enverus, the utility industry is projected to spend over $1 trillion by the end of this decade on necessary upgrades and expansions. He emphasized the importance of merging SBS’s engineering design automation platform with Enverus’s advanced analytics, which would streamline risk-adjusted decision-making regarding utility capital deployment.

SBS specializes in automating detailed engineering design workflows, offering a range of products including the Automated Utility Design (AUD), Substation Design Suite (SDS), and Automated Broadband Designer (ABD). These solutions have been reported to slash design cycle times by up to an astonishing 90%. The versatility and efficiency of these products have garnered widespread adoption across utilities and engineering firms not only in North America but also in Europe and Australia.

Al Eliasen, President and CEO of SBS, expressed pride in the company's achievements over the years and shared enthusiasm about the capabilities that a partnership with Enverus will introduce. He noted that joining forces would allow SBS to scale innovations more effectively while providing in-depth data integration and enhanced analytics in the engineering design process. This is particularly pertinent as utilities are increasingly required to handle more complex projects.

Enverus’s strategy of rapid innovation and strategic acquisitions has solidified its standing in utility capital programs. The incorporation of SBS will deepen its operational efficacy by connecting planning, design, market intelligence, and asset optimization, which are all critical components in the evolving power ecosystem.

The acquisition is anticipated to be finalized in the second quarter of this year and is contingent on regulatory approvals and customary closing conditions. Financial institutions Evercore and Barclays are serving as advisors in this significant transaction.

About Enverus

Enverus has carved its niche as a trusted partner in the energy sector, providing vital intelligence and facilitating operational efficiencies via its extensive proprietary data and innovative AI-driven technology. Its mission is to empower clients to make smarter investments and optimize operations across various domains, including upstream, midstream, and renewables.

About SBS

Spatial Business Systems stands as a key player in intelligent design workflows, assisting electric and gas utilities, along with telecommunications providers, in automating engineering processes, creating Bill of Materials, and ensuring adherence to industry standards. The firm has gained robust support from Peak Rock Capital, underpinning its innovative solutions in the global market.