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Snow Phipps Group acquires ITSolutions

Snow Phipps Group, a New York-based private equity firm, has completed the acquisition of ITSolutions, along with co-founder and chief executive Stefan Lalos, from The Edgewater Funds a

Snow Phipps Group, a New York-based private equity firm, has completed the acquisition of ITSolutions, along with co-founder and chief executive Stefan Lalos, from The Edgewater Funds as well as current and former employees of ITSolutions.

Lalos will continue to lead the company as chief executive.

ITSolutions, headquartered in Silver Spring, Maryland, is an information technology services provider to US government civilian, national security, and intelligence agencies.

It provides infrastructure operations, network engineering and architecture, information assurance, specialized relocation and engineering, programme management, software development, and strategic planning to its customers with a focus on end-to-end IT solutions and complementary consulting services.

"We are very pleased to announce our partnership with ITSolutions," says Ian Snow, Snow Phipps’ managing partner. "ITSolutions fills a valuable role providing outstanding service to government agencies. ITSolutions is led by a strong management team with a solid base of business and highly attractive growth prospects."

"We have enjoyed a terrific relationship with Edgewater and look forward to partnering with Snow Phipps in the next phase of our development," says Lalos. "We are delighted to share our vision and build our business with the support of Snow Phipps. We look forward to the strategic guidance they will provide to take advantage of the opportunities for both organic and acquisition oriented growth."

Leif Soderberg, Snow Phipps operating partner, will join ITSolutions as non-executive chairman of the board of directors.

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