Luminate Capital Partners invested an undisclosed sum in LiquidFrameworks Inc. in exchange for majority control in that company.
The stake was sold by venture capital firm Houston Ventures and other early investors in LiquidFrameworks, which offers cloud-based quote-to-cash and field ticketing software for the oilfield, industrial and environmental services sectors.
The enterprise software-focused private equity firm is making the investment from its recently closed $425 million fund. LiquidFrameworks' board will be joined by Hollie Haynes, Mark Pierce and Sanjay Palakshappa from Luminate.
Kirkland & Ellis LLP was legal adviser to Luminate.