Prometheus Group buys Tamarack to expand procurement

Prometheus Group has acquired Tamarack, expanding into procurement and supply chain services for asset-intensive industries.

Financial terms were not disclosed. The acquisition brings together Prometheus Group's asset management software and Tamarack's procurement advisory services, supplier agreements and group purchasing model.

Founded in 2020, Tamarack focuses on mining, heavy industry, oil and gas, and construction. It operates across the United States and Canada and has supported projects in South America, Europe and Africa.

Its model centres on a membership base of more than 50 operating sites, which can access a contract library of more than 60 pre-negotiated supplier agreements covering maintenance, repair and operations, fuels and propane, mobile equipment parts, energy, consumables and site services.

For Prometheus Group, the deal adds a procurement layer to a software business built around enterprise asset management. Customers had been seeking closer links between asset planning, maintenance work, and the sourcing of materials, spare parts and services.

That need is especially important in sectors where downtime, parts availability and supplier performance directly affect output and costs. The combined business is targeting companies in mining, utilities, construction, energy, oil and gas, chemicals and manufacturing.

Tamarack's model is based on aggregated demand, contract activation, and benchmarking of pricing and supplier performance. It also supports customers with procurement execution to help ensure negotiated terms are adopted at site level.

Prometheus Group's platform integrates with enterprise resource planning systems including SAP, Oracle and IBM Maximo. Following the transaction, Tamarack members are expected to gain access to those broader software integrations and operational support, while Prometheus Group adds a procurement network with established industry coverage.

Customer demand

Eric Huang, Chief Executive Officer of Prometheus Group, said the acquisition addresses a gap in customer needs around sourcing and supply chain decisions.

"Procurement is where asset strategy meets operational reality-and it's a capability our customers have been asking us to address," said Huang. "Tamarack has built an exceptional platform that delivers measurable savings to some of the most demanding industries in the world. By bringing Tamarack into the Prometheus Group family, we're closing a critical gap between asset management and procurement, giving our customers a more complete, data-driven view of their operations from planning through sourcing and execution."

The acquisition reflects a broader push by software providers to connect operational technology, enterprise systems and supply chain data in a single workflow. In asset-intensive industries, procurement decisions are often closely tied to maintenance schedules, plant reliability and access to critical spares.

Tamarack has built its business around that overlap. Its group purchasing structure is designed to give members access to negotiated commercial terms while allowing them to retain control over local operations and buying decisions.

Tamarack model

Tamarack says its data and benchmarking tools give customers visibility into market pricing, supplier performance and their own cost position relative to peers. That has become more important as operators face pressure on input costs and supply resilience.

Ben-Schoeman Geldenhuys, Chief Executive Officer and Co-founder of Tamarack, said the transaction connects procurement activity more directly to maintenance and operations.

"We built Tamarack to bring the power of strategic group purchasing, underpinned by data-driven procurement, to industries with an acute focus on security of supply and total cost of ownership. These industries benefit tremendously from the GPO model in supporting their internal teams," said Geldenhuys.

"Joining Prometheus Group allows us to connect procurement directly to asset management and operational execution-something our members have long needed. Together, we'll deliver a truly end-to-end platform that helps organisations not only manage their assets but also source the materials and services needed to keep them running at peak performance within a GPO environment," he added.

The transaction gives Prometheus Group a deeper foothold in industries where supply chain performance has a direct effect on maintenance outcomes and site productivity. Tamarack brings a North America-focused membership base and supplier agreement structure, while Prometheus Group contributes software links to planning, execution and enterprise systems.

Tamarack serves customers across North America and has project experience in Africa, Europe and South America. Its membership base stands at more than 50 operating sites.