Private equity firm Genstar Capital LLC is close to purchasing RS Energy Group from peer Warburg Pincus LLC in a deal that values the Canadian energy research group at about $1 billion, Bloomberg News reported, citing people with knowledge of the matter.
Genstar plans to merge Calgary, Alberta-based RS Energy Group with its Austin, Texas-based portfolio company Enverus, the people said.
Genstar could announce a deal as soon as this month, the people added.
No final decision has been made and talks could collapse, according to the people.
Warburg Pincus acquired RS Energy for $120 million from Investment Technology Group Inc. in 2015, according to Bloomberg data, while Genstar acquired Enverus in 2018 from Insight Venture Partners LP .
Representatives for Warburg and Genstar declined to comment, while RS Energy and Enverus did not respond to requests for comment.