Frontenac Acquires Prime Technology Group from Renovus Capital Partners
January 7, 2020
Frontenac, a Chicago-based private equity firm, has acquired Prime Technology Group, a Wayne, Pennsylvania-headquartered provider of outsourced application development and managed software solutions, from Renovus Capital Partners. Balance Point Capital provided a bespoke debt and equity financing package to support Frontenac's acquisition; financial terms were not disclosed. Frontenac said it will invest in strategic growth initiatives, talent and complementary software development capabilities to accelerate Prime's platform maturation and market penetration in healthcare, insurance and financial services.
- Buyers
- Frontenac, Balance Point Capital
- Targets
- Prime Technology Group
- Sellers
- Renovus Capital Partners
- Industry
- IT Services
- Location
- Pennsylvania, United States
- Transaction Type
- Buyout
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