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Key Principal Partners exits investment in OAO

Key Principal Partners, a USD1bn private investment firm, has exited from OAO Technology Solutions.

OAO provides managed IT solutions, including application management, IT infrastructure support and professional staffing to global outsourcers and major corporations in North America and Europe.

Key Principal’s original investment of USD13.5m in subordinated debt and common stock in December 2003, in a transaction led by J.F. Lehman & Company, helped OAO complete a take-private transaction.

Through privatisation, the company saved upwards of USD1m per year in public company costs.

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