High Street Capital has acquired NeoSystems, a full service strategic outsourcer, IT systems integrator and managed services provider to the government contractor market. No financial terms were disclosed.
TYSONS CORNER, Va., September 8, 2021 – NeoSystems, a full service strategic outsourcer, IT systems integrator and managed services provider to the government contractor market, announced today that it is being acquired by High Street Capital, a Chicago-based private equity firm. Financial terms of the deal were not disclosed.
The company will continue to be led by NeoSystems CEO and Co-Founder, Michael Tinsley, and Co-Founder and CTO, Rob Wilson, along with its current management team.
“This is a terrific outcome for our company, customers, partners and workforce,” said President and Co-Founder Michael Tinsley of NeoSystems. “With the investment and confidence of High Street Capital, we will be able to expand our services and optimize market opportunities to better drive customer success and meet their increasing appetite for strategic outsourced and managed IT services.”
With investment from High Street Capital, NeoSystems plans to bolster its resources including expanding and deepening its capabilities, adding to its customer support staff, launching new products, broadening its channel offerings, and expanding its workforce to better meet growing client demand for its services.
“We see tremendous growth potential for NeoSystems especially as the rate of digital transformation has accelerated due to changes resulting from the pandemic,” said Timothy J. Kurth, Partner at High Street Capital. “NeoSystems offers a full complement of strategic and business essential functions that helps to ensure a company’s success. We believe with our guidance and oversight we can help take the company to the next level.”
According to IBISWorld, the market size, measured by revenue, of the Business Process Outsourcing Services industry is $54.8 billion in 2021.
NeoSystems, who will retain its name, will continue to be based in Northern Virginia at its Tyson’s Corner campus that houses its nearly 200-strong workforce. Earlier this year, NeoSystems announced attaining Registered Provider Organization (RPO) status, a large initiative led by the Department of Defense to significantly strengthen the security of its supply chain.