Genstar Capital’s $1 Billion Acquisition of Prometheus Group

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.

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.

Holland & Knight represented Prometheus Group’s founder and CEO, Eric Huang, with a team including Eric Wechselblatt (Picture) and Valarie Ney led Holland & Knight’s representation of Prometheus and Mr. Huang. They were assisted by Partner Gary Schoenbrun, who advised on tax issues, and Partner Claudia Hinsch, who advised on employee benefits matters.

Involved fees earner: Claudia Hinsch – Holland & Knight; Valarie Ney – Holland & Knight; Gary Schoenbrun – Holland & Knight; Eric Wechselblatt – Holland & Knight;

Law Firms: Holland & Knight;

Clients: Eric Huang;

Author: Ambrogio Visconti