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System One Announces Significant Investment by Oaktree Capital Management, L.P.

Oaktree signed a definitive agreement to make a significant investment in System One

 

PITTSBURGH, PA — December 8, 2020 — System One Holdings, LLC (“System One”), a leading provider of specialized workforce solutions and integrated services, announced that it has entered into a definitive agreement to receive a significant investment from funds managed by Oaktree Capital Management, L.P. (“Oaktree”).  In addition to acquiring equity interests in System One, Oaktree’s investment will support the continued growth of the company. Financial terms of the transaction were not disclosed.

System One is one of the largest workforce solutions and integrated services firms in the U.S. with over 8,000 employees and consultants.  The company offers a comprehensive suite of mission-critical, recurring human capital solutions to diversified end markets, including utilities, telecom, industrial, government, legal, life sciences, marketing & creative, and information technology.

“We have rapidly expanded our platform and portfolio of services, and we believe System One is well-positioned for continued growth in partnership with Oaktree,” said Troy Gregory, System One President and CEO. “The team at Oaktree shares our commitment to our customers and employees and strongly supports our growth initiatives, both organically and through targeted acquisitions.”

“System One is a recognized leader in its industry. We are thrilled to partner with an exceptional leadership team that founded and built a platform with a differentiated ability to deliver specialized workforce solutions,” said Jimmy Lee, Managing Director of Oaktree. “We look forward to leveraging our resources and relationships to support System One’s continued growth and expansion of its services benefiting both existing and new customers.”

The transaction is expected to close in the first quarter of 2021, subject to regulatory approvals and other customary closing conditions.

About System One

System One delivers specialized workforce solutions and integrated services. We help clients get work done more efficiently and economically, without compromising quality. For more than 40 years, we’ve built our reputation on exceptional talent, flexible delivery, and full accountability. System One’s national network spans engineering, life sciences, creative & marketing, legal, and government and technology. System One is headquartered in Pittsburgh, PA. For additional information, please visit systemone.com.

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments with $140 billion in assets under management as of September 30, 2020. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 19 cities worldwide. For additional information, please visit Oaktree’s website at oaktreecapital.com.

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