Prometheus Group Wins Deal of the Year Award

Association for Corporate Growth Announces 2014 Award for Prometheus Group, TA Associates, and Morehead Capital

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Apr 08, 2014, 09:46 ET

RALEIGH, N.C., April 8, 2014 /PRNewswire/ -- Prometheus Group announced today that its minority recapitalization by TA Associates was named the 2014 Deal of the Year by the Raleigh Durham Chapter of The Association for Corporate Growth (ACG) at its Eleventh Annual Capital Conference at the Washington Duke Inn & Golf Club in Durham, NC. This award honors the company and the private equity groups involved in a significant transaction involving a North Carolina or South Carolina company during 2013.

Prometheus Group delivers packaged software for Enterprise Asset Management across multiple industries, including oil and gas, chemical, utilities, life sciences, mining and asset-intensive manufacturing, with solutions deployed in the world's largest companies. Founded in 1998 and headquartered in Raleigh, Prometheus Group has offices in the UK, Netherlands, Brazil and Australia and continues to expand globally. Prior to its recapitalization by TA, Prometheus had partnered with Morehead Capital, a private investment firm based in Raleigh, since 2010.

"We are honored to accept this award and are excited to be working with a premier private equity firm of the caliber of TA Associates," said Michael Ives, Chief Financial Officer for Prometheus Group. "The Prometheus partnership with TA delivers the deep industry expertise and resources required to extend the ability of Prometheus to deliver its solutions to a broad, global market."

Ashutosh Agrawal, Director at TA Associates, said, "Prometheus helps companies realize noticeable improvements in productivity and cost savings through a unified approach to enterprise asset optimization that drives competitive advantage for its customers. We welcome this award and the opportunity to partner with the Prometheus management team on the next phase of the company's growth."

Nate Edgerly, Partner at Morehead Capital, said, "We continue to be big supporters of Prometheus, and we are very proud to have played a role in their success."

About Prometheus Group
Prometheus Group enables unified enterprise asset optimization through an integrated approach to planning, scheduling, work management and business analytics across routine and preventive maintenance, shutdowns/turnarounds, and production scheduling. Unlike our competition, our packaged software is easy to use, can be implemented in weeks and allows a business to quickly improve operational efficiency and the effectiveness of work processes to gain competitive advantage. For more information, visit www.prometheusgroup.com.

About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 430 companies around the world and has raised $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at www.ta.com.

About Morehead Capital
Founded in 2006, Morehead Capital is a private investment firm based in Raleigh, North Carolina that manages the Morehead Opportunity Fund, LP. The partners at Morehead Capital have over 50 years of combined experience in principal investing, financing, and operations. More information about Morehead Capital can be found at www.moreheadcapital.com.

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Eric Baxley, VP of Marketing, 919-378-2213, [email protected]

SOURCE Prometheus Group