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MidOcean Partners invests in technical recruiter System One

4 Jan 2013

human-team-networkTransatlantic mid-market private equity firm MidOcean Partners has made a significant undisclosed equity investment in System One, a provider of technical outsourced staffing services to the energy, engineering, IT, commercial and scientific sectors.

Pittsburgh, Pennsylvania-based System One is the sixth largest engineering staffing company and forty-second largest staffing company overall in the US.

The business was formed in 2008 through a management buyout led by Troy Gregory, System One’s CEO, of Hudson Highland Group’s engineering staffing business.

Over the last three years it has also added complementary services including a proprietary vendor management system, a legal staffing business and a utility services business.

MidOcean’s investment has been made in partnership with the company’s current management team. Financial terms of the deal were not disclosed.

“Over the course of the last two years, MidOcean has been evaluating opportunities in the specialised staffing and HR outsourcing space,” MidOcean principal Elias Dokas said in a statement.

“System One’s deep customer relationships, best-in-class management team and multiple avenues for growth all differentiate it from its competition.

“We are very excited to be investing with System One’s management team as the Company continues on its impressive growth trajectory.”

New York and London-based Mid Ocean Partners is currently investing through its third buyout fund, a 2007-vintage vehicle that closed with commitments of $1.35bn.

The firm recently sold its stake in Puerto Rican cable TV and telephony company OneLink Communications to Nasdaq-listed Liberty Global, in a deal valued at $585.25m.

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