Bowstring Advises ALTA IT Services in its Sale to System One Services
January 19, 2016 | Atlanta, GA
Bowstring Advisors (“Bowstring”) served as the exclusive financial advisor to ALTA IT Services (“ALTA”) in its sale to System One Services (“System One”). Based in Rockville, Md., ALTA specializes in IT staffing and consulting for government agencies and commercial clients and has emerged as one of the top three independent IT staffing providers to the Washington, D.C., metro area. System One is a portfolio company of MidOcean Partners, a private equity firm specializing in middle-market transactions in consumer and media and business services.
This acquisition of ALTA enables System One to greatly expand its service offerings and capacity to help clients transform their technology platforms through software and applications development, systems integration, project management, infrastructure and data management, among others. Together, the companies will focus on sourcing and screening talent for legacy systems and emerging technologies to support critical IT projects and core business functions.
Additionally, System One benefits from ALTA’s long-standing history serving federal government clients and contractors. ALTA holds a Top Secret Facility clearance and has a strong track record of delivering IT talent that meets the strict compliance and performance standards associated with federal contracts. The company works with the largest federal government contractors as well as a long list of small businesses and commercial enterprises.
Troy Gregory, President and CEO of System One, said, “We are excited to invest in the growth of this exceptional team and expand our reach in IT and government services. We look forward to bringing ALTA’s deep subject matter expertise and significant experience in IT to all of System One’s clients.”
ALTA CEO Howard Stein retired at the end of the year after an entrepreneurial career spanning more than 30 years of leading high-growth IT staffing agencies. Industry veteran and ALTA Executive Vice President Rich Paolicelli will assume the senior leadership role.
“I am thrilled for ALTA to partner with System One to help continue our growth strategy and expand our service offerings,” commented ALTA CEO Howard Stein. “This partnership will provide tremendous benefits for the combined organization as well as the breadth of service opportunities available to our clients. We are extremely appreciative of the Bowstring team for identifying the right partner for us and for bringing about a successful outcome for all parties.”
Alan Bugler, Director at Bowstring Advisors, said, “We are grateful for the opportunity to work with the ALTA management team as they evaluated alternatives and partnership opportunities. ALTA’s breadth of experience and deep sector knowledge will bring significant value to the combined organization. System One is one of the leading providers of engineering and IT staffing services.”
The transaction closed December 28, 2015. As part of the transaction, ALTA will become a wholly owned subsidiary of System One Holdings, LLC, and the company will operate in alignment with System One’s IT division. Terms of the transaction were not disclosed.
I am thrilled for ALTA to partner with System One to help continue our growth strategy and expand our service offerings. We are extremely appreciative of the Bowstring team for identifying the right partner for us and for bringing about a successful outcome for all parties.
ALTA IT Services