Media-focused private equity firm Providence Equity Partners has hired Renato DiPentima, the former president and CEO of New York Stock Exchange-listed IT services company SRA International Inc, as a senior adviser.
He will advise Providence on new investments in the government information services sector and serve on the board of Altegrity Inc, a current Providence portfolio company that provides investigative, security and training services to federal government and commercial clients.
DiPentima brings a combination of government and private sector expertise to Providence, having served for 30 years in the federal government before spending 13 years with SRA. During DiPentima’s tenure, SRA grew from just over $100m to more than $1.2bn in revenue, creating a dominant provider of IT services and solutions throughout the federal government, including in the national security, intelligence and healthcare sectors.
Julie Richardson, a managing director at Providence, said, “We believe the government information services market is a highly attractive area of continued investment for Providence. Renny has been a respected leader in the field for years and will bring to Providence strong relationships and a remarkable track record of driving growth. We look forward to working together to build leading businesses in this dynamic industry.”
DiPentima served as president and COO of SRA from 2003 to 2005 and president and CEO from 2005 to 2007, during which time revenue and EBITDA grew at annual rates of 29 per cent and 19 per cent, respectively. Prior to joining SRA in 1995, he held several senior management positions in the US federal government, including serving as the Social Security Administration’s deputy commissioner.
Providence manages funds with over $22bn in commitments.
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