BOSTON, October 7, 2013 – Advent International, one of the largest and most experienced global investors dedicated solely to private equity, today announced that it has signed an agreement to acquire P2 Energy Solutions (“P2”) in partnership with management. P2, a portfolio company of Vista Equity Partners, is the leading provider of software, geospatial data and land management tools to the upstream oil and gas industry. The transaction, subject to customary closing conditions, is expected to be completed by the end of 2013. Terms of the acquisition were not disclosed.

P2 provides products and services to more than 1,500 companies, including 49 of Oil & Gas Journal’s 50 largest public companies, as well as many small and mid-sized growth companies active in the sector. Upstream oil and gas companies use P2 products and services daily to improve decision-making, gain clarity into complex workflow scenarios and optimize upstream efficiency. Customers in manufacturing, midstream oil and gas, mining and minerals have also adopted flexible solutions from P2. The company has more than 80 years of experience in geospatial data, with the highly regarded Tobin Data assets, and 30 years in software. P2 employs over 700 people in offices around the world, with centers of excellence in Denver, Houston, Calgary, Perth and Singapore.

Advent will work with P2’s existing management team, led by CEO Charles Goodman, to pursue continued growth through investment in customer support, new product development, international expansion and strategic acquisitions of both software and data businesses.

“P2 has a leading position in both software and data for the upstream oil and gas industry,” said Eric Wei, a Principal at Advent. “We are excited to partner with the P2 team to grow the business organically and through strategic acquisitions. Advent 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.”

“Advent’s investment in P2 marks an important milestone in our history and will help drive our continued success in an exciting growth industry,” said Charles Goodman, CEO of P2. “We are privileged to work with the top companies in oil and gas, as well as up-and-coming companies that are making a name for themselves. Advent’s expertise and long-term outlook will enable P2’s continued investment in our customers and our products for the future, empowering integrated business operations for the upstream oil and gas industry.”

Advent is one of the leading investors in the technology sector, having invested in over 40 technology and technology services companies since 1990. In the past year, the firm has invested in KMD, Denmark’s largest IT services and software company, and TransUnion, a global provider of information and risk management solutions to businesses across multiple industries and to individual consumers. Additionally, Advent has a long-established track record of investing in the industrial sector, including upstream oil and gas services. Recent investments include BOS Solutions, a leading full-service provider of drilling fluid treatment and recovery solutions to oil and gas exploration and production companies, and NCS Energy Services, a leading manufacturer and servicer of sliding-sleeve and other down-hole tools for the oil and gas well completions market.

Weil, Gotshal & Manges LLP is serving as a legal advisor to Advent, and Jefferies LLC is serving as the exclusive financial advisor to P2. Jefferies Finance LLC provided financing commitments to Advent International in support of the transaction.