Platinum Equity Acquires OAO Technology Solutions, Inc
Los Angeles, CA, and green spaces, MD – (Marketwire2008 years – January 19, 2010) – Platinum Equity announced today that it has acquired with OAO Technology Solutions ( "OAOT") by Lehman Brothers, a subsidiary of Sakura
OAOT provides managed IT services and solutions for Fortune 500 corporations, global outsourcers and government agencies.
“OAOT has long-standing relationships with valued customers, an outstanding international workforce and a reputation for delivering exceptional customer service,” said Jacob Kotzubei, the partner at Platinum that is leading the OAOT investment. “Throughout the world the need for high-quality cost-effective managed IT services is growing and OAOT offers a full-range of solutions to meet that increasing demand.”
A platinum-house team of experts is working with the OAOT operations management, and develop into a platinum card portfolio, long-term plans and transition services.
“In the midst of a challenging worldwide economic climate, over the last three years OAOT has expanded its market share, enhanced its commercial IT services offerings, and significantly improved the company’s operational effectiveness, profitability and financial performance,” said Sidney E. Fuchs, OAOT president and chief executive officer. “This acquisition provides incredible momentum and creates a platform for rapid growth as we join the top-tier group of IT services companies in the Platinum Equity portfolio.”
Mr. Kotzubei explained that acquiring OAOT is a natural investment for Platinum, given the firm’s history of investing in IT companies.
“We know and understand the industry well and have had a lot of success creating value in this space,” explained Mr. Kotzubei.
Jeff Fine and Jared Jensen of Kirkland & Ellis LLP served as legal advisers to Platinum Equity on the acquisition of OAOT.
Rustam Bill and Dennis Wallace of Gibson, Dunn
About OAO Technology Solutions, Inc.
OAOT (www.oaot.com) Soryushonfochun managed IT services and 500 companies, government agencies and a global leader in the global outsourcing destination. Our application outsourcing expertise include management and staffing solutions for data centers and infrastructure. Headquartered in Greenbelt, Maryland, our 1600 employees around the world, United States, Canada, are located throughout Europe.
About Platinum Equity
Platinum Equity is a global M
About J.F. Lehman & Company
J.F. Lehman & Company is a leading middle-market private equity firm focused exclusively on the defense, aerospace and maritime sectors. The firm has offices in New York, Washington and London. For more information about J.F. Lehman & Company, please visit www.jflpartners.com.