Prentice was born on 7 August 1847 Beattock, Scotland, and educated at Greenock.

[1] Prentice moved to Shanghai 1870 to join Muirhead & Co which was absorbed later by Boyd & Co.. Boyd & Co was subsequently absorbed by Shanghai Dock and Engineering Co, a major shipbuilding company.

Prentice rose through the ranks to become the controlling interest and principal of the firm.

[5] A bust of Prentice was placed in the hall of the French Club in Shanghai following his death.

[6] A stained glass window in memoriam of Prentice was placed in the Union Church in Shanghai.