Warburg Pincus puts RS Energy on the block

Warburg Pincus is looking for a buyer for RS Energy Group, a provider of analytics and data-driven energy intelligence, people familiar with the process told Buyouts.

The sale process is in the early stages, and it’s unclear when first-round bids are due, the people said.

Credit Suisse is advising the company on the sale, they said.

RS Energy, based in Calgary, Alberta, provides research on more than 150 companies operating in key North American and international energy hubs. The company utilizes software-as-a-service technology, data science and augmented analytics.

RS Energy generated about $100 million in revenue and between $40 million and $50 million in Ebitda, the sources said.

Companies in this market are trading at high teen multiples of Ebitda, one person said.

Warburg Pincus acquired the company in 2015 from the Investment Technology Group. The deal was valued at $120.5 million in cash, the company announced at that time.

Since Warburg’s acquisition, the firm completed several add-ons to the RS Energy platform. In 2016, RS Energy acquired NavPort, a completion and production data company focusing on the upstream oil and gas market. Last year, RS Energy acquired Petroleum Policy Intelligence (PPI), a U.K.-based research provider.

In March 2019, RS Energy also announced its first data and model blending platform that allows its clients to blend their internal, high-resolution data with RSEG’s analytics-ready, public data sets in a secure and confidential manner.

Warburg Pincus, based in New York, manages more than $65 billion in assets and invests across varies sectors, including healthcare, technology, media and telecommunications (TMT), financial services, energy, and industrial and business services.

Warburg Pincus and Credit Suisse declined to comment for the story.

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