Francisco Partners Sells Prometheus Group for Over $1 Billion
San Francisco – Francisco Partners, a leading global private equity firm that specializes in investments in technology and technology-enabled businesses, announced today the sale of Prometheus Group to Genstar Capital for over $1 billion. Francisco Partners took a majority stake in Prometheus Group, a leader in plant maintenance and Enterprise Asset Management software, in November 2016 and will retain a minority investment.
Over the last three years, Francisco Partners has scaled Prometheus’ business significantly and expanded the company’s platform to serve asset-intensive companies around the world operating in the oil & gas, chemical, pulp & paper, mining & metals, and utilities industries. Today, the North Carolina-based company has more than 300 employees and a vast, global footprint.
"We are proud to have partnered with the Prometheus team in building out a unified platform for operational excellence through both organic growth and M&A," said Petri Oksanen, Partner at Francisco Partners. "We look forward to continuing the relationship and seeing Prometheus further build on its heritage of innovation."
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