Advent International adds P2 Energy Solutions to portfolio


oil oil_lrgAdvent International has teamed up with P2 Energy Solutions’ management to acquire the software company from fellow private equity firm Vista Equity Partners.

The business provides software, geospatial data and land management tools to more than 1,500 upstream oil and gas companies including 49 of Oil & Gas Journal’s 50 largest public companies.

The firm said that it will work with P2’s existing management team to “pursue continued growth through investment in customer support, new product development, international expansion and strategic acquisitions of both software and data businesses.”

Advent principal Eric Wei said, “P2 has a leading position in both software and data for the upstream oil and gas industry.

“We are excited to partner with the P2 team to grow the business organically and through strategic acquisitions.

“Avent provides P2 with a long-term, global partner that is looking to invest in the company’s products and services to provide the highest-quality technology and support to its valued customer base.”

Earlier this month it was reported that Advent is no longer in in hunt for Fifth & Pacific’s Lucky Brand.

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