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    Silver Lake acquires Quorum Business Solutions

    Silver Lake Partners and Silver Lake Kraftwerk have agreed to acquire Quorum Business Solutions from funds managed by The Carlyle Group’s middle-market buyout team and Riverstone Holdings. Key Quorum management will also participate as equity partners in the new ownership structure.

    Quorum provides software – including financial accounting, transaction systems, land & property management and trading & risk management, among others – for a diverse range of companies operating within the oil and gas supply chain, including the upstream, midstream and pipeline verticals. Since the company's inception in 1998, Quorum has completed over 975 energy information technology projects. The company provides ongoing support to over 185 energy industry clients.

    In February, Quorum expanded its software solution portfolio into multi-commodity energy trading and risk management (C/ETRM) with the acquisition of Phoenix ETRM from Woodlands Solutions LLC.

    The deal marks the first joint investment between Silver Lake Partners and Silver Lake Kraftwerk, as well as partners’ first investment in the technology-enabled sectors of the oil and gas industry. Terms were not disclosed.

    The transaction is expected to close following the satisfaction of customary closing conditions and approvals.

    The company was advised in the transaction by Credit Suisse, Hogan Lovells US LLP and Latham & Watkins LLP. Silver Lake was advised by Kirkland & Ellis LLP. RBC Capital Markets is providing debt financing for the transaction.

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