System One Poised for Growth in Energy Sector and Beyond
Provider of Professional Managed Staffing Solutions
Teams Up With Leading Private Equity Firm
Pittsburgh, PA, October 20, 2010– System One Holdings, LLC, a leader in technical outsourcing and careers, has received a minority investment to fund future growth from Veronis Suhler Stevenson (VSS), a leading private equity and debt capital investor with deep experience in professional and human resources services. System One delivers professional managed staffing solutions for the energy, nuclear, engineering, information technology, scientific and commercial sectors. Terms of the deal were not disclosed.
“We are delighted to have the support of such an experienced partner as VSS as we continue executing on our growth and expansion plans,” said Chief Executive Officer Troy Gregory. “This partnership with VSS will help to fulfill our vision to identify, train, develop and staff the workforce necessary to enable an energy-independent United States. In 2010 alone, we have expanded our portfolio of services to include smart meter and wind energy solutions, as well as other turnkey service offerings in the fast growing renewable energy space.”
System One is a top 10 technical staffing specialist with approximately $300 million in annual revenues. In 2010, the company moved up to the No. 7 slot on Staffing Industry Analysts’ list of largest U.S. engineering staffing firms. Mr. Gregory also recently received an Ernst & Young Entrepreneur Of The Year® 2010 Award, which recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses.
“In System One, VSS sees a well differentiated company with a strong, visionary management team that has delivered strong top and bottom line growth during a very difficult economy,” said Scott Troeller, a Partner at VSS. “The highly specialized markets served by System One provide it with a stable and expandable base of blue-chip clients who have ongoing needs for highly valued skilled professionals as well as sophisticated managed staffing solutions.” He added, “We look forward to partnering with System One on both organic and acquisition-related expansion initiatives.”
VSS has broad experience in the professional business services and human resources industries. Its holdings include TMP Worldwide, North America’s largest independent recruitment advertising agency, Previsor, a provider of pre-employment screening tests and employee assessment solutions, and DOAR Communications, which supports Fortune 1000 companies with comprehensive litigation support solutions, including labor and employment matters.
About System One
System One, is the leader in technical outsourcing and careers. For 30 years, our company has helped clients improve productivity through proven recruiting strategies and effective resource management. Headquartered in Pittsburgh, PA, System One supports a wide range of technical disciplines, specializing in the energy, engineering, information technology, commercial and scientific sectors. More information is available at www.systemoneservices.com.
About Veronis Suhler Stevenson
Veronis Suhler Stevenson is a private equity and debt capital fund management company dedicated to investing in the information, education, media, and business and marketing services industries in North America and Europe. VSS provides capital for buyouts, recapitalizations, growth financings and strategic acquisitions to companies and management teams with a goal to build companies both organically and through a focused add-on acquisition program. To date, VSS equity and debt funds have invested in 65 platform companies, which have in turn completed over 300 add-on acquisitions resulting in a portfolio with realized and unrealized enterprise values totaling over $14 billion. The company’s website is www.vss.com.
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For more information:
Katrin C. Lieberwirth
Stanton Public Relations & Marketing
(646) 502-3548
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Jennifer Bernhart
System One
(727) 642-4445
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