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.
