Franciso Partners

Partnership with Management to Continue Strong Growth Trajectory

SAN FRANCISCO — Genstar Capital, a leading private equity firm focused on investments in targeted segments of the software, industrial technology, healthcare, and financial services industries, announced today the acquisition of Prometheus Group from Francisco Partners for over $1 billion. 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.

Prometheus is an industry leading provider of comprehensive and intuitive plant maintenance operations and optimization software. Its solutions utilize data analytics to deliver a uniform experience across the platform and are trusted by the largest asset-intensive companies in the world operating in the oil & gas, chemical, pulp & paper, mining & metals, and utilities industries. Founded in 1998 and based in Raleigh, NC, the company has a global operating footprint and customer base and has over 300 employees.

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. Eric and his team have built an integrated easy-to-use platform, and their solutions help transform plant maintenance operations. 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. We are very excited to continue that journey with Genstar leveraging their industrial technology expertise.”

“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.”

Lazard served as financial advisor to Prometheus Group. Genstar Capital was advised by Irell & Manella LLP, Francisco Partners was advised by Paul Hastings, and Eric Huang was advised by Holland & Knight.

About Prometheus Group

Prometheus Group is a leading global provider of comprehensive and intuitive plant maintenance operations and optimization software, with a broad platform of solutions addressing the unique idiosyncrasies and requirements of heavy asset operators. Prometheus’ interconnected platform allows changes to be communicated in real-time across an organization, improving manpower efficiency and driving production uptime. For more information on Prometheus Group, please visit: www.prometheusgroup.com.

About Francisco Partners

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch over 19 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit: www.franciscopartners.com.

About Genstar Capital

Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for over 30 years. 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. Genstar currently has approximately $17 billion of assets under management and targets investments focused on targeted segments of the software, industrial technology, healthcare, and financial services industries. For more information on Genstar, please visit: www.gencap.com.

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