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| [January 11, 2013] |
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VSS Announces Successful Exit From its Investment in All Systems Holding LLC
NEW YORK --(Business Wire)--
Veronis Suhler Stevenson (VSS), a private investment firm focused on the
information, education, media, marketing and business services
industries, today announced the repurchase of the entire investment of
VSS Structured Capital II, L.P. in All Systems Holding LLC ("System
One"). Headquartered in Pittsburgh, PA, System One was formed in 2008
through a management buyout led by Troy Gregory, System One's CEO, of
Hudson Highland Group, Inc.'s engineering staffing business. Under
current management, System One has become a leading provider of managed
staffing and technical outsourcing solutions.
VSS made its investment in System One in October of 2010. In the current
transaction which closed on December 31, 2012, MidOcean Partners
invested in System One providing equity capital and a portion of
proceeds of that investment were used to redeem VSS SCII's investment.
System One is a premier provider of professional managed staffing
solutions for the energy, nuclear, engineering, information technology,
scientific and commercial sectors.
During the period VSS held the investment, the Company added
complementary services including a proprietary vendor management system,
a legal staffing business and an utility services business. System One
is the sixth largest engineering staffing company and forty-second
largest staffing company overall in the United States.
"Over the past several years, Troy Gregory built an outstaning
management team which greatly increased the scope of the System One
offerings. We were very pleased with the performance of the Company
during our investment period," said Hal Greenberg, Partner, VSS
Structured Capital II, LLC. "Furthermore, System One has been an
excellent example of VSS's commitment to investing in the business
services sector."
VSS has extensive experience in the business services sector including
such platform investments as Trover Solutions, a provider of subrogation
and overpayment recoveries for insurance payors in the healthcare and
property and casualty industries; SHL, a provider of cloud-based talent
measurement and management solutions; Avatar International, a provider
of intelligent and customizable survey-based products for the healthcare
industry; Executive Health Resources of expert medical management
services to improve hospital compliance and achieve revenue integrity;
and Ebiquity, a business information services company providing global
advertising monitoring and press monitoring services.
About System One
Headquartered in Pittsburgh, Pennsylvania, System One provides managed
staffing and technical outsourcing solutions to improve productivity,
specializing in the energy, engineering, information technology,
commercial and scientific sectors. System One is the sixth largest
engineering staffing companies and the forty-second largest staffing
company overall in the U.S. Additional information about System One 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, marketing and business 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. Since the closing of the first VSS Buyout
Fund in 1987, VSS has managed four Buyout Funds and two Structured
Capital Funds with aggregate committed capital in excess of $3.1
billion. The six funds have to date invested approximately $2.7 billion
in 70 portfolio companies which have in turn completed over 320 add-on
acquisitions. The company's website is www.vss.com.

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