Raleigh, NC, December 1, 2021 – Prometheus Group, a leading global provider of asset management operations and optimization software, announced the acquisition of Ventureforth, an Atlanta-based Oracle partner specializing in mobile apps and cloud solutions for asset maintenance, supply chain, work management, and more.
For over 25 years, Ventureforth has been a leader in mobilizing Oracle, providing software solutions for essential workers in industries across the globe from manufacturing to facilities management to oil and gas, and other asset intensive industries.
“We are excited that Ventureforth will be joining our team,” says Eric Huang, CEO of Prometheus Group. “Prometheus helps organizations achieve their EAM goals by offering user-friendly, fit-for-purpose solutions that increase productivity and reduce error. Ventureforth's cloud based mobile solutions for Oracle are well known in the space and an ideal fit with the Prometheus platform of EAM solutions. I believe this combination will greatly benefit the Oracle community.”
"We are looking forward to joining Prometheus Group," says Charles Farnell, CEO and Founder, Ventureforth. "Prometheus Group’s solutions will be of great interest to our global clientele, and we are pleased to be able to offer them not just an expanded line of cloud products, but also extended services and training."
Prometheus Group’s platform integrates all enterprise asset management software from planning and scheduling to analytics into a cohesive view. The company is trusted by the largest asset-intensive organizations spanning oil and gas, chemical, pulp and paper, mining and metals, and utilities industries across the globe. The acquisition of Ventureforth represents the sixth made by Prometheus Group since being acquired by Genstar Capital in 2019.
Financial terms of the acquisition are not being disclosed. Allied Advisers served as exclusive financial advisor to Ventureforth in this transaction.
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 Group’s interconnected platform allows changes to be communicated in real-time across an organization, improving manpower efficiency and driving production uptime.
Genstar Capital (www.gencap.com) 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 $33 billion of assets under management and targets investments focused on targeted segments of the financial services, industrials, healthcare, and software industries.
Ventureforth has been a one-stop shop for all things mobile in Oracle EAM and Cloud SCM that seamlessly connect systems across departments and devices to eliminate information silos. Their low-code formula and pre-integrated Oracle solutions are intuitive, user-friendly and fast to implement, thereby reducing training costs.
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