M&A Deal Summary

Genstar Capital Acquires Prometheus Group

On May 30, 2019, private equity firm Genstar Capital acquired software company Prometheus Group from Francisco Partners for 1.0B USD

Acquisition Highlights
  • This is Genstar Capital’s 10th transaction in the Software sector.
  • This is Genstar Capital’s 2nd largest (disclosed) transaction.
  • This is Genstar Capital’s 74th transaction in the United States.
  • This is Genstar Capital’s 6th transaction in North Carolina.

M&A Deal Summary
Date 2019-05-30
Target Prometheus Group
Sector Software
Buyer(s) Genstar Capital
Sellers(s) Francisco Partners
Deal Type Secondary Buyout
Deal Value 1.0B USD
Advisor(s) Lazard (Financial)

Target

Prometheus Group

Raleigh, North Carolina, United States
Prometheus Group is a global provider of comprehensive and intuitive enterprise asset management software solutions specializing in improving the efficiency and effectiveness of maintenance planning, scheduling, and execution. Developed jointly with end users, Prometheus software enhances the customer experience with intuitive functionality, graphical visualization, and simple processes, enabling the company’s customers to increase productivity, reduce costs and improve reporting. Prometheus Group is based in Raleigh, North Carolina.

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Buyer(S) 1

Buyer

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.

DEAL STATS #
Overall 81 of 109
Sector (Software) 10 of 12
Type (Secondary Buyout) 32 of 49
State (North Carolina) 6 of 7
Country (United States) 74 of 101
Year (2019) 3 of 8
Size (of disclosed) 2 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-16 Palomar

La Jolla, California, United States

Palomar is an insurer that focuses on the provision of specialty property insurance for residential and commercial clients. Palomar’s underwriting and analytical acumen allow it to concentrate on certain markets that it believes are underserved by other insurance companies, such as the markets for earthquake, wind and flood insurance. Based in La Jolla, California, the company is an admitted carrier in 25 states. Palomar was founded in 2013 and is based in La Jolla, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-04 Procure Analytics

Atlanta, Georgia, United States

Procure Analytics is software-centric, data-forward group purchasing organization for MRO and Packaging, leveraging $1B+ in buying power to achieve savings for member companies. Procure Analytics was founded in 2009 and is based in Atlanta, Georgia.

Buy -

Seller(S) 1

SELLER

Francisco Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 45.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Francisco Partners' headquarters in San Francisco, California.
Francisco Partners' headquarters in San Francisco, California.

Francisco Partners is a private equity firm focused exclusively on investments in technology and technology-enabled services. Specific areas of interest include semiconductors, capital equipment, electronics components, systems and manufacturing, IT services and business process outsourcing, communications, security and enterprise applications, and infrastructure software. Prospective investment situations include divisional buyouts, growth equity financings, acquisitions of private companies, sponsored mergers and acquisitions, and take-privates. Francisco Partners looks for opportunities where it can commit a minimum of $100 million per investment. Francisco Partners was formed in 1999 and is based in San Francisco, California.

DEAL STATS #
Overall 55 of 81
Sector (Software) 18 of 28
Type (Secondary Buyout) 14 of 22
State (North Carolina) 1 of 2
Country (United States) 44 of 67
Year (2019) 2 of 8
Size (of disclosed) 9 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-28 LiveU

Hackensack, New Jersey, United States

LiveU is the pioneer of a bonded cellular technology-based live video transmission platform, offered to major live broadcast news networks and sports content owners globally. LiveU's technology enables customers to apply innovation and automation to the entire production workflow. LiveU was founded in 2006 and is based in Hackensack, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-19 SmartFocus US

New York, New York, United States

SmartFocus delivers real-time, personalized marketing that drives revenue, loyalty and satisfaction. The company's cloud marketing platform helps thousands of marketing organisations drive millions of targeted campaigns each year, connecting customers via email, mobile, social, web and other channels. For more than a decade, focusing on scalability, reliability, and security has made SmartFocus one of the leading cloud marketing providers worldwide.

Sell -
Mergr

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