Prometheus Partners, a micro-cap buyout firm based in Atlanta, is nearing a close on its fourth little fund. I say little even though I don’t know the exact size, but judging by prior funds, this firm clings tightly to the term “micro.” Prometheus I was $20 million, Prometheus II was $45.5 million, and Prometheus III was $40 million. So I can’t imagine Prometheus IV going over $50 million. The firm seeks to do roll-ups or capitalize on fast-growing companies with enterprise values between $10 million and $30 million.
Prometheus has a restaurant franchise focus, though it appears that Spanky’s Portable Services LLC has snuck its way into the firm’s portfolio.
Siguler Guff is arranging to make the final commitment to Prometheus IV before it closes, a source said.