Reported 6 months ago
Advent International is close to finalizing a deal to acquire a stake in Prometheus Group, an industrial software company, potentially valuing the firm at over $4 billion, including debt. The deal, expected to be announced soon, is being facilitated by private credit lender Oak Hill Advisors. Prometheus, known for its plant maintenance and optimization software, was previously acquired by Genstar Capital for over $1 billion in 2019, and now the company is exploring a sale at a valuation of up to $6 billion. The industrial software sector has been witnessing high valuations as companies seek to modernize operations for the digital era.
Source: YAHOO