MRO Magazine

Advent International and Leonard Green investing in software firm Prometheus Group

The investment aims to boost Prometheus Group's footprint in the industrial software space.

June 6, 2024 | By MRO Staff

Enterprise asset management software developer Prometheus Group is receiving what’s being called a “significant investment” from private equity investors Advent International and Leonard Green & Partners.

The financial details of the investment have not been disclosed.

Headquartered in Raleigh, N.C., Prometheus Group is a portfolio company of Genstar Capital.

As part of the transaction, Genstar, which acquired Prometheus Group in 2019, and Eric Huang, CEO and founder of Prometheus, will continue to retain meaningful stakes in the company.

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“With this incremental investment, Prometheus plans to continue its commitment to innovation and excellence by extending its already comprehensive suite of industrial maintenance software solutions,” Prometheus Group officials said in a news release. “[We] company will also expand [our] customer service and go-to-market efforts, with a particular focus on international markets including Europe and Asia.”

Prometheus Group’s software platforms are designed for the oil and gas, chemical, pulp and paper, mining and metals, utilities, food and beverage, and pharmaceutical industries.

 

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