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.