Private equity firm Genstar Capital is considering strategic options for software maker Prometheus Group that could include a sale, according to people familiar with the matter.
(Bloomberg) — Private equity firm Genstar Capital is considering strategic options for software maker Prometheus Group that could include a sale, according to people familiar with the matter.
Genstar has held talks with potential advisers over exploring a sales process that could value Raleigh, North Carolina-based Prometheus at about $6 billion, said the people, who asked not to be identified because they weren’t authorized to speak publicly.
Prometheus, which makes plant maintenance operations and optimization software, is likely to attract interest from potential corporate buyers, the people said. A final decision hasn’t been made and Genstar could still decide to keep the business, they said.
A spokesperson for San Francisco-based Genstar declined to comment. A representative for Prometheus didn’t immediately respond to requests for comment.
Genstar bought a majority stake in Prometheus for more than $1 billion in 2019 from Francisco Partners, which retained a minority interest, according to the company’s website. The firm has since backed management, led by founder and Chief Executive Officer Eric Huang, with acquisitions, including S&V, Viziya, WorkTech, Engica and Roser ConSys.
Prometheus, which was founded in 1998, provides industrial software solutions across sectors including oil and gas, paper, mining and metals and utilities, according to its website.
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