MENLO PARK, Calif. and HOUSTON, July 14, 2014 /PRNewswire/ -- Silver Lake Partners, the global leader in technology investing, and Silver Lake Kraftwerk, the firm's energy and resource innovation strategy, announced today that they have agreed to acquire Quorum Business Solutions (Quorum) 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 is the leading provider of software and services to manage operational, administrative, financial and transactional business processes for energy, renewables and natural resource industry segments. 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. Silver Lake's capital investment will support Quorum's continued growth and market leadership, including strategic acquisitions to enhance its functional capabilities and scope of products and services. Terms of the transaction were not disclosed. 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 experienced continued growth through the deployment of efficient, cost effective solutions that help businesses meet vital performance goals. Quorum has completed over 975 successful energy information technology projects and provides ongoing support to over 185 energy industry clients. The rapid growth of Quorum's business has been accompanied by a significant rise in U.S. oil and gas production. During the current 'Shale Revolution,' the United States has recorded a 25 percent rise in natural gas production since 2010 and has overtaken Russia as the world's largest producer of natural gas. According to the International Energy Agency, the U.S. also became the largest producer of crude oil and natural gas liquids earlier this year, surpassing Saudi Arabia. "Quorum has become a critical player in the energy market, where technology is playing an increasingly vital role," said Bryce Lee, a Managing Director at Silver Lake Kraftwerk. "Quorum has built a leadership position through its differentiated, mission-critical software and relentless focus on treating clients as partners, whether building the new functionality they desire or providing outstanding support. We look forward to working with management to maintain its customer-centric culture and continuing an aggressive, growth-oriented business plan, including potential investments in new product capabilities and M&A." "We are very excited to announce our new business alliance with Silver Lake, a distinguished leader in technology and energy investing," said Perry Turbes, President and Chief Executive Officer of Quorum. "Their global presence, technology expertise and value creation capabilities will be an invaluable resource in the coming years. We look forward to working with Silver Lake to further accelerate our growth, enhance Quorum's value proposition to its clients and help us achieve our long-term strategic vision." 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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