Private equity firm Genstar Capital agreed to acquire software maker Prometheus Group from Francisco Partners.
Genstar will pay more than $1 billion for Prometheus, according to a statement May 30. The company’s chief executive officer, Eric Huang, and Francisco Partners will continue to be shareholders in Prometheus.
Prometheus provides software used to manage plant operations and maintenance for companies in industries including energy, paper, mining and utilities. The Raleigh, North Carolina-based company has more than 300 employees, according to the statement.
Lazard Ltd. was the financial adviser to Prometheus Group.
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