Peak Rock Capital has agreed to sell Spatial Business Systems (SBS), a Denver-based intelligent design automation platform, to Enverus, an energy data analytics company backed by Blackstone. The transaction, which closed after Peak Rock's 2022 acquisition of SBS, marks another strategic move in the energy technology sector consolidation.

SBS provides critical infrastructure solutions for electric and gas utilities, serving a niche market that has seen increased demand for digital transformation. Founded in 2002, the company underwent significant operational changes under Peak Rock's ownership, transitioning to a subscription-based revenue model and investing in AI capabilities and sales expansion. Jordan Campbell, Peak Rock's senior managing director, highlighted the company's transformational growth during the private equity firm's tenure.

The deal was advised by Lazard and Lincoln International as financial advisors, with Kirkland & Ellis LLP serving as legal counsel. While financial terms remain undisclosed, the acquisition aligns with Enverus's strategy to expand its portfolio of energy technology solutions. SBS's president and CEO Al Eliasen will continue to lead the company through the transition.