Genstar buys Prometheus Group for more than $1 bln
Summary
Eric Huang, Chief Executive Officer and founder of Prometheus, will remain a significant shareholder in the company, and Francisco Partners will retain a minority investment. Eli Weiss, Managing Director of Genstar, said, “We have invested extensively in software solutions providers similar to Prometheus, and their reputation as a leader in the plant maintenance technology sector is well deserved. Prometheus aligns well with our previous investments, and we are excited to work with Eric and his team to help further expand the solutions portfolio and target acquisitions that will broaden the company’s suite of services.” “We have an unwavering focus on integrating all aspects of plant maintenance and operations and delivering hard dollar ROI for our customers,” remarked Eric Huang, founder and CEO of Prometheus Group. “With Francisco Partners’ support and shared vision, we scaled the business significantly and expanded our platform to solve an even broader set of our customers’ critical pain points. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses.
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