Snow Phipps Group Acquires ITSolutions
07 July 2009
New York, July 7th, 2009 – Snow Phipps Group, LLC, a New York-based private
equity firm, today announced they have completed the acquisition of ITS Holding
Company (“ITSolutions”), along with Mr. Stefan Lalos, Co-Founder and CEO of
ITSolutions, from funds managed by The Edgewater Funds as well as current and
former employees of ITSolutions. Mr. Lalos will continue to lead the company as
CEO.
ITSolutions, headquartered in Silver Spring, Maryland, is a leading information
technology services provider to U.S. government civilian, national security, and
intelligence agencies. ITSolutions provides infrastructure operations, network
engineering and architecture, information assurance, specialized relocation and
engineering, program management, software development, and strategic planning to
its customers with a focus on end-to-end IT solutions and complementary
consulting services.
“We are very pleased to announce our partnership with ITSolutions,” said Ian
Snow, Snow Phipps’ Managing Partner. “ITSolutions fills a valuable role
providing outstanding service to government agencies. ITSolutions is led by a
strong management team with a solid base of business and highly attractive
growth prospects.”
“We have enjoyed a terrific relationship with Edgewater and look forward to
partnering with Snow Phipps in the next phase of our development,” said Mr.
Lalos. “We are delighted to share our vision and build our business with the
support of Snow Phipps. We look forward to the strategic guidance they will
provide to take advantage of the opportunities for both organic and acquisition
oriented growth.”
“Stefan Lalos and his team have built a company that is differentiated by its
superior customer service and its strategic market positions,” said Leif
Soderberg, Snow Phipps Operating Partner. “We have worked diligently to identify
the right investment opportunity in the federal IT services marketplace and
believe that our partnership with Stefan and Leif will result in the future
growth and continued success of ITSolutions,” added Snow Phipps Investment
Partner Sean Epps.
Mr. Soderberg will join ITSolutions as Non-Executive Chairman of the Board of
Directors. Mr. Soderberg brings extensive defense industry knowledge and
experience to the position with more than 10 years at Motorola, Inc. in a range
of senior positions including running their Defense business and as Chief
Strategy Officer and Head of Corporate Development. Prior to joining Motorola,
Mr. Soderberg was a Partner at McKinsey & Company, where he spent 15 years as a
Management Consultant.
BB&T Capital Markets | Windsor Group acted as the exclusive financial advisor to
ITSolutions.
About Snow Phipps Group, LLC
Snow Phipps is a New York-based private equity firm
founded by Ian Snow and Ogden Phipps that seeks to acquire middle market
businesses in attractive industries by leveraging the expertise of exclusive
Operating Partners who are seasoned industry executives.
About ITSolutions, LLC
Established in October 2001, Interactive Technology Solutions (ITSolutions) is a
privately held management and information technology consulting company.
ITSolutions employs over 500 professionals located in the Washington, DC
metropolitan area. ITSolutions has consulted with over 19 government agencies
and private companies by providing customers with expertise and solutions in the
areas of program and project management, strategic planning, infrastructure
operations, call center consulting, and network engineering and operations.
Media Contact:
Steven Bruce / Pen Pendleton / Monica Everett
The Abernathy
MacGregor Group (212) 371-5999
