Enverus to acquire SBS to power AI-driven utility planning and engineering

Combination will bring intelligence and automation from CapEx strategy to engineering execution

AUSTIN, Texas, March 4, 2026 /PRNewswire/ -- Enverus, the leading energy data analytics platform, announced today that it has entered into a definitive agreement to acquire Spatial Business Systems (SBS), an AI-enabled intelligent design automation platform for electric and gas utilities, telecommunications providers, and engineering teams.

To keep pace with load growth, reliability mandates, and grid modernization targets, utilities must deliver complex capital projects with speed and precision. The acquisition of SBS brings to Enverus a portfolio of design automation solutions and AI-powered reporting that streamlines utility engineering workflows with ready-made and fully customizable engineering templates, automated bills of materials and connected data across design, enterprise planning systems, and GIS environments.

"Utilities are projected to spend over $1 trillion by the end of 2029 to modernize aging infrastructure, integrate new generation, and meet rising demand," said Manuj Nikhanj, CEO of Enverus. "The team at SBS has built mission-critical engineering tools that sit at the heart of utility capital programs. By combining their engineering design automation platform with Enverus' planning intelligence and AI-driven analytics, we are building the operating platform for risk-adjusted utility capital deployment."

Founded in 2002, SBS provides products across energy transmission, distribution, and substation design and telecommunications design: Automated Utility Design (AUD), Substation Design Suite (SDS), BIM Substation Designer (BSD), and Automated Broadband Designer (ABD). SBS solutions improve design cycle times by up to 90% and are widely adopted across utilities and engineering firms in North America, Europe, and Australia.

"We are proud of the trust our customers have placed in our products to automate and accelerate engineering design and improve project consistency," said Al Eliasen, President and CEO of SBS. "Joining Enverus allows us to scale our innovation, expand our enterprise capabilities and embed richer data and analytics into the design process, just as utilities are being asked to do more with greater complexity than ever before."

Enverus has expanded its power and energy transition solutions through rapid organic innovation and strategic acquisitions. The addition of SBS deepens Enverus' role in utility capital programs and expands its ability to connect planning, design, market intelligence and asset optimization across the power ecosystem.

The transaction is expected to close in Q2, subject to customary closing conditions and regulatory approvals. Evercore and Barclays served as financial advisors to Enverus.

About Enverus
Enverus is the energy industry's most trusted source for decision intelligence and operational efficiencies. With petabytes of proprietary data, deep domain expertise and AI-native technology, Enverus empowers customers to invest smarter, operate more efficiently, and scale faster — across upstream, midstream, minerals, power and renewables — all while navigating the most complex energy market in history. Learn more at www.enverus.com.

About SBS
Spatial Business Systems (SBS) is a provider of intelligent design tools for electric and gas utilities telecommunications providers. Its solutions enable utilities, telecoms, and engineering firms to automate detailed engineering design workflows, generate Bill of Materials, enforce standards and connect design to enterprise asset systems and GIS. SBS serves utilities, telecoms, and engineering partners globally and was backed by Peak Rock Capital.

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SOURCE Enverus