Los Angeles, CA, Hebron, KY and Greenbelt, MD —
February 23, 2010 — Platinum Equity announced today that it
will combine Pomeroy IT Solutions, Inc. and OAO Technology Solutions,
Inc. (“OAOT”), creating a single global IT
solutions provider with increased scale, broader reach and expanded
service offerings.
“Pomeroy and OAOT
are both recognized industry leaders with unique and complementary
product and service offerings,” said Jacob Kotzubei, the
partner at Platinum that is leading the combined Pomeroy and OAOT
investment. “This combination makes perfect sense and will
create new opportunities for each company’s clients, business
partners and employees.”
Platinum
acquired Pomeroy in November 2009 through a public-to-private
transaction and acquired OAOT in January 2010 from an affiliate of J.F.
Lehman & Company and the other OAOT stockholders.
Pomeroy President and CEO Christopher C. Froman will lead the combined organization.
“The
combination of our two companies is an excellent opportunity to broaden
our services portfolio and to expand our global reach,” said
Christopher C. Froman, President & Chief Executive Officer of
Pomeroy IT Solutions, Inc. “With offices in the U.S., Canada,
and Europe we are in a better position to serve the needs of our
clients.”
The combined businesses will
operate as Pomeroy IT Solutions and will be headquartered at
Pomeroy’s existing facilities in Northern Kentucky. They will
also retain ownership of the OAO Technologies brand and may continue
using it for the purpose of marketing certain product and service
lines.
A transition team of Pomeroy and OAOT
staff is working with Platinum’s in-house operations
specialists to combine the two businesses. According to Mr. Froman,
that team is intensely focused on seamless execution and maintaining
the highest levels of customer service.
“Our
3500 employees are committed to the continued support of our clients
and partners, and I look forward to the achievement of our strategic
initiatives,” said Mr. Froman.
Mr.
Kotzubei emphasized that long-term growth potential was the driving
force for Platinum in bringing the two companies together.
“We’re
creating a powerful platform with extraordinary potential for growth,
both organically and potentially through additional
acquisitions,” Mr. Kotzubei explained. “We have the
financial resources, operational capabilities and industry experience
necessary to create a leading enterprise with exciting opportunities
for employees and extraordinary value for
customers.”
About Pomeroy IT Solutions, Inc.
Pomeroy
IT Solutions is a leading provider of advanced technology services
focused on IT Outsourcing, Infrastructure Services, Consulting
Solutions, Product Procurement and Logistics, and IT Staffing.
Pomeroy's consultative approach delivers information technology
solutions through the disciplines of ISO9000, ITIL, HDI, and PGMP
practices, enabling Fortune 1000 corporations, government entities, and
mid-market clients to increase productivity, reduce costs, and improve
profitability. For more information, go to www.pomeroy.com.
About OAO Technology Solutions, Inc.
OAOT
(www.oaot.com) is a global leader in
Managed IT Services and Solutions to Fortune 500 corporations, global
outsourcers and government agencies. The Company's expertise includes
applications outsourcing, data center and infrastructure management and
staffing solutions. Headquartered in Greenbelt, Maryland, our 1,600
worldwide employees are located throughout the United States, Canada
and Europe.
About Platinum Equity, LLC
Platinum
Equity is a global M&A&O® firm specializing in
the merger, acquisition and operation of companies that provide
services and solutions to customers in a broad range of business
markets, including information technology, telecommunications,
logistics, metals services, manufacturing and distribution. Since its
founding in 1995 by Tom Gores, Platinum Equity has completed nearly 100
acquisitions with more than $27.5 billion in aggregate annual revenue
at the time of acquisition. For more information, go to www.platinumequity.com.
