Blackstone Buys Geosyntec in Wager on Global Energy Transition

Blackstone Inc. is buying a majority stake in Geosyntec Consultants, an engineering and consulting firm that shapes waterways, coastlines, dams and power grids.

The world’s largest alternative asset manager is wagering that more companies and states will need hydro-geologists and engineers to navigate climate regulations and understand their impact on the environment. Blackstone’s $380 million equity infusion values Geosyntec at more than $750 million, according to people familiar with the matter.

Power utilities have tapped Boca Raton, Florida-based Geosyntec to deal with ash from the burning of coal, and the firm also has helped to cleaned up pollutants ...