In brief: Inflexion makes ESG consultancy play with $500m buyout

The deal continues the trend of private equity players targeting ESG consultancy services.

Inflexion has become the latest private equity firm to back a business in the ESG consultancy space, acquiring a majority stake in dss+ from Gyrus Capital.

Headquartered in Switzerland, dss+ “supports clients to reduce risk, transform culture, maximise impact and improve sustainability by operating more responsibly”, Inflexion said in an announcement.

The investment values the business at around $500 million, according to a source with knowledge of the deal. Inflexion declined to comment on the deal size.

ESG consulting services have attracted significant interest from private equity in recent years. Blackstone paid $1.4 billion for ESG software provider Sphera in July 2021; KKR picked up consultancy firm ERM for $2.85 billion two months earlier.

Inflexion head of services Isabelle Pagnotta led the transaction; in her previous role at Canadian pension OMERS, she led the investors’ acquisition of ERM.