Quorum Business Solutions Receives “Significant” Capital Investment from Carlyle and Riverstone
Quorum Business Solutions, Inc., a provider of business and information technology solutions for the oil, gas, and renewable energy industry, has received a “significant” capital investment from The Carlyle Group and Riverstone Holdings LLC.
In conjunction with the financing, the company announced that R. Scott Leeds, its President and a co-founder, has assumed the title of CEO, succeeding co-founder Paul Weidman, who will remain Chairman. In addition, 11-year Quorum veteran and former CCO, Perry Turbes, has assumed the title of COO.
Founded in 1998, the company develops, implements, and supports its Quorum Energy Software Suite, a set of integrated business applications designed for companies that produce, gather, transport, process and market oil, natural gas, natural gas liquids, LNG, wind generation and other energy commodities.
Quorum employs more than 350 staff operating out of offices in Houston, Dallas and Calgary and has ongoing relationships with more than 100 clients, including 25 Fortune 500 companies.
Commenting on the investment, Quorum’s Weidman and Leeds said: “In partnership with Carlyle and Riverstone we will build upon our track record of continuous enhancement and extension of our offerings, developing our people and working closely with our clients to ensure their success.
“With their respective experience in technology-related services and the energy industry, Carlyle and Riverstone bring additional skills, capital and relationships to Quorum, which will fuel our growth and commitment to our valued clients and employees”, they added.