Raleigh-based Prometheus Group has been making asset management easier for major corporations since its beginning in 1993. What started out as a one-person consulting outfit has grown into a billion-dollar business with co-founder and CEO Eric Huang guiding it every step of the way.
Prometheus provides a suite of software solutions designed to help asset-intensive companies manage their plant maintenance, operations, and optimization. It’s capable of enhancing the operation of an organization’s existing enterprise resource management software and provide users with in-the-moment feedback.
In Huang’s words, Prometheus provides boring software. “Boring but extremely critical,” he clarified. “It’s planning and scheduling software…. we saw that many companies had the same problem, so we later rewrote the software as a general solution that was applicable across industry.”
Perhaps that’s one of the reasons why Prometheus had maintained such a low profile for most of its profitable existence. A billion-dollar valuation changed all that when Genstar Capital caught wind of the company and bought a majority stake in May 2018. According to Huang, Prometheus has grown 30 percent year-on-year since its start, and it shows no signs of slowing down anytime soon.
The flagship product, the Prometheus Platform, offers users a 360-degree view of all data they need to make decisions about their organization. Drawing on data collected company-wide from modules for planning and scheduling, mobile-enabled maintenance tools, and permitting & isolation – the software can provide actionable insights based on real-time data.
Prometheus is trusted by organizations spanning several industries, including oil & gas, chemical, pulp & paper, mining & metals, and utilities. As part of an effort to better serve its customers, Prometheus is acquiring companies that offer complementary products and services to their own.
Earlier this month, Prometheus acquired Roser Consys, an industry-leading provider of plant shutdown, turnaround, and outages (STO) software. The Dutch-based business's primary offering is the Roser Suite – a comprehensive communication solution designed to streamline the flow of information between departments and programs used in maintenance projects. The applications provide services ranging from scope definition to scheduling, and material management.
“I’m thrilled to bring such an incredibly talented team into our company,” Huang said of Prometheus’ most recent purchase. “Roser Consys’ dedicated shutdown, turnaround, and outages expertise enable us to provide customers with an integrated suite of software and applications dedicated to ensuring that these critical events are handled safely and efficiently with minimal downtime.”
Prometheus’ has acquired three other companies since Genstar came onboard – including Datasplice, a provider of software, hardware, mobile & training solution for EAM software, and Canadian-based Solufy, creator of the AKWIRE Visual Suite of P&S Tools for Maximo. They also purchased Engica, a safety & maintenance software developer, in October 2019.