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Genstar Capital-backed Prometheus Group acquires Ventureforth

Prometheus Group, a global provider of asset management operations and optimization software backed by Genstar Capital, has acquired Ventureforth, an Atlanta-based Oracle partner specialising in mobile apps and cloud solutions for asset maintenance, supply chain, work management, and more.

Financial terms of the acquisition have not been disclosed.
 
For over 25 years, Ventureforth has been a leader in mobilising 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 organisations 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 organisations 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.
 
Allied Advisers served as exclusive financial advisor to Ventureforth in this transaction.

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